Putrajaya doesn’t believe in deficit hell or surplus heaven
By Shannon Teoh, The Malaysian Insider
KUALA LUMPUR, May 24 — The Najib administration does not believe in “deficit means you go to hell and surplus means you go to heaven”, with a minister insisting today a plan to slash subsidies despite rising prices is well timed during a growing economy.
The government is to decide this week on stopping the subsidy bill from growing to RM21 billion, which could raise the prices of fuel, electricity and other goods, prompting dismay among people who complain their wages cannot keep up with inflation.
The cuts could also delay Prime Minister Datuk Seri Najib Razak’s decision to call a snap election.
“The government does not hold to the ideology that a deficit means you go to hell and surplus means you go to heaven,” Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop (picture) told reporters here today.
He said the government was being pragmatic by spending during a financial crisis to restore confidence while cutting back when the economy has recovered.
