Debts more than RM1 trillion if contingent liabilities are included, insists Azmin
(MMO) – The current economic slowdown in the country is due to investors adopting a cautious attitude after the 14th general election (GE14), according to Minister of Economic Affairs, Datuk Seri Mohamed Azmin Ali.
He said this in Parliament in a reply to a question from Dungun MP, Wan Hassan Ramli, who had asked what measures were being taken by the government to address the slowdown in the economy.
As a whole, Azmin said the economy and banking sector, which is used to gauge the former, were strong.
Malaysia’s economy grew at 5.9 per cent in 2017, with inflation at 3.8 per cent and unemployment at 3.4 per cent.
However, the government was concerned with the debt level, which stood in excess of RM1 trillion if contingent liabilities were included, he added.
Azmin reiterated that the government had taken measures to cut back on frivolous expenditure and leakages to put the economy on stronger footing.
“The Mid Term Review of the 11th Malaysian Plan in November will spell out some of these measures,” said Azmin.
