Home > News > Nation
Thursday October 17, 2013 MYT 12:00:00 AM
Thursday October 17, 2013 MYT 9:46:32 AM
PETALING JAYA: Prime Minister Datuk Seri Najib Tun Razak must explain how he plans to carry out measures to avoid Malaysia’s credit rating from being cut by Fitch Ratings, said Lim Guan Eng.
The Penang Chief Minister asked Najib to clarify how he aimed to cut subsidies, broaden the country’s tax base and manage spending prudently.
“Is Najib talking about further increases in petrol, sugar and food prices when he talked of cutting state subsidies?” he asked in a statement yesterday.
He stressed that promises of prudent management were meaningless when no action was taken against those responsible for the excesses, wastages and financial wrongdoings amounting to RM6.5bil that were highlighted in the Auditor-General’s 2012 report.
Lim also asked whether Najib was talking about broadening the tax base through the implementation of Goods and Services Tax.
Lim said Malaysia’s debt-to-GDP ratio of 53.5% was the highest among 12 emerging Asian markets after Sri Lanka, while household debt-to-GDP ratio stood at 83% this year, up from 66.7% in 2004.
“Fitch Ratings cut Malaysia’s credit outlook from stable to negative in July, citing rising debt levels and a lack of budgetary reform,” he said.
Tags / Keywords:
Politics, guan eng, fitch ratings, najib
Hisham: No Malaysia-France discussion on Mistral helicopter carrier
Najib meets French minister over interest in copter carrier
Cops summon seven rally organisers to take statements
Cops seeking duo over stomping of Najib, Hadi photo
Dr M says attended Bersih as there's no other way to oust Najib
Police probe Dr M over Bersih rally
Air quality in Peninsular Malaysia worsens
Malaysia not doomed despite weakened ringgit, says Paul Low
Liow: Picture-stomping not Malaysian culture
Not much improvement in Penang either
TalentCorp turns Malaysia’s brain drain to brain gain
‘Cowboy outposts’ must be developed for the convenience of travellers
Arsenal Supporters' Trust urges review of transfer policy
New SAP software aims to help companies make sense of data deluge
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)