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
Najib vows to provide funds for Agro Bazaars
Animal activists welcome news and call for mass vaccinations
Master unit to manage volunteers and supplies, says Najib
MCA has not cut ties with Ling, says Youth chief
1MDB: We are not debt-laden
Chong: Certain politicians responsible for fanning racial sentiments
The Star’s ‘Get Fit. Live Great’ theme aims to inspire healthy living
Malaysia top for wrong reasons, says Khairy
Ong: Important for Malaysians to unite to conquer world market
Four detained, ransom recovered in Kajang kidnap
Two orang asli children found emaciated but alive in unforgiving terrain
Annual ICT expo returns to Kuching at new location
Fashion store hits Kuching
Hungry? China's food delivery apps bite into Yum revival
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)