Ku Li: Najib able to manage finances well

He says the country has many assets to cover its debts and the claim by the opposition that Malaysia will be bankrupt is not true

(Bernama) – Former finance minister Tengku Razaleigh Hamzah is confident the federal government under the leadership of Prime Minister Najib Razak is capable of managing the country’s finances well.

He said the country had many assets to cover its debts and the claim by the opposition that Malaysia would bankrupt soon was not true.

“To have debts is normal for a country and even the United States has more debts than us.

“The problem of economic pressure happens in all developed countries, but they have their rehabilitation plans,” he told reporters after opening the Sekolah Kebangsan (SK) Jerek education transformation programme here today.

Present were Nenggiri assemblyman Mat Yusoff Abdul Ghani, Galas assemblyman Ab Aziz Yusof and state Education Department deputy director Muhammad Zahari Othman.

Tengku Razaleigh, who is also Gua Musang MP, said this in response to claims by the opposition that the government was facing bankruptcy due to the global economic pressure.

He said although Malaysia was affected by the global economy, the country was capable of overcoming it.

“We are confident of the economy recovering soon and the value of the ringgit will to be better and will stabilise,” he said.