X Close


Published: Friday March 29, 2013 MYT 12:00:00 AM
Updated: Wednesday April 24, 2013 MYT 2:13:26 PM

GE13: Opposition manifesto will lead to financial crisis, says Husni

PUTRAJAYA: The opposition's manifesto, if implemented, will increase the government's fiscal deficit from 4% to 11.5% within a year and burden the government with debt, said Finance Minister II Datuk Seri Husni Hanadzlah.

Husni said the manifesto would also lead to a larger debt of up to 62.1% to the GDP.

"The manifesto would cause the country's rating to fall and lead to fewer foreign investments. It is based on fantasy without consideration of the actual economic situation," he told reporters on Friday.

"We will have to grapple with a more serious current account deficit as our revenue is insufficient to finance the government's operations expenditure.

"This means the government has to borrow money to pay civil servants' salary, their pension and subsidies. Borrowing more money will lead the government to a more serious financial and economic crises as being experienced by several European Union (EU) member countries," he said.

Tags / Keywords: Nation, News, husni hanadzlah, opposition manifesto, GE13, Government, Politics


  1. UM lecturer Azmi Sharom faces sedition charge
  2. MH17: Names of nine returning victims released
  3. A joyous Merdeka celebration
  4. Cops arrest 156 voluntary patrol members after state-level Merdeka procession
  5. Two youths killed in crash while racing in their Evo
  6. They acted like gangsters, IGP Khalid says of PPS
  7. World champion still a dream for Chong Wei
  8. Proton offers sneak peek of new compact car
  9. Cops swoop in to arrest PPS members after Penang Merdeka parade
  10. Riot erupts after Sarawak-Perak football match in Kuching