Too dramatic to say we’ll go broke, says economist

KUALA LUMPUR: To say that Malaysia will go bankrupt by 2019 if subsidies are not withdrawn is a “terribly dramatic and inappropriate way” to justify the end of subsidies, said an economist and Umno supreme council member.

Although phasing out subsidies is a pragmatic move, Datuk Dr Norraesah Mohamad said the country was on a solid footing owing to a good economic outlook, prudent financial management and tight monetary policies.