KUALA LUMPUR, July 24 (Bernama) -- Malaysia''s debt is still manageable as
it is below 55 per cent to the Gross Domestic Product (GDP) ratio, said
Minister in the Prime Minister''s Department Datuk Seri Idris Jala.
He said the 53.8 per cent of national debt for last year is within the
range as the government continues its efforts to bring down the fiscal deficit
level.
"With the implementation of the Economic Transformation Programme, we are on
the right trajectory and continue to reduce the deficit level every year. For
2012, we aim to narrow further the fiscal deficit to 4.7 per cent from 5.0 per
cent of last year''s GDP," he told the media on the sidelines of the
GTP Roadmap 2.0 Open Day here today.
Citing the Mass Rapid Transit project, Idris said though the government had
to raise funds for the project, it still managed to keep the debt level below
55 per cent.
"We borrow for investments (aiming) to grow our GDP and economy. The debt
level will directly reduce. Unlike Greece, they are borrowing a lot of money but
the economy is shrinking," he added.
Idris, who is also the Chief Executive Officer of the Performance Management
and Delivery Unit (PEMANDU), said Malaysia''s GDP at 4.7 per cent in the first
quarter was still growing, whereas Singapore''s only grew at 1.4 per cent, due to
the slowdown in the global economy.
"This is good...with more investments coming in and positive indicators,
going forward," he added.
The GTP Roadmap 2.0 Open Day at the Kuala Lumpur Convention Centre
aims to gather feedback from the public and provide a basis for review for
PEMANDU.
The GTP Roadmap 2.0 was formulated after PEMANDU conducted a series of
labs, held over six weeks in April and May, to identify key issues and new areas
of growth opportunities, which would work on within the National Key Results
Areas. -- BERNAMA
NSF ARUNT MAS AS