logo
Govt Succeeds In Reducing New Debt

Govt Succeeds In Reducing New Debt

Barnama5 days ago
BUSINESS
PUTRAJAYA, July 21 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim said the government has succeeded in reducing the annual debt to RM77 billion in 2024 from RM99 billion in 2022.
This thus fulfills the commitment of more prudent fiscal management, and only the interest payments on old debts have not yet been reduced, he said.
'The new debt that the government has incurred (was) RM99 billion in 2022, dropping to RM93 billion in 2023 and in 2024 the total is RM77 billion... that is less.
"They say the total amount (of debt) is more, added with the old debt and the interest that we have to pay, but I said the government promised to reduce new debt, we have fulfilled that.
"But what is being spread around... we are increasing (the debt), so it is as if we are deceiving the people. If you look at these figures, who is deceiving?" he asked when speaking at the Prime Minister's Department monthly assembly here today.
Anwar, who is also the Finance Minister, said annual new debt had been successfully reduced in line with the reduction in the deficit, while giving the commitment that the government would reduce the fiscal deficit in stages and responsibly without affecting national development.
He said the government had reduced the country's fiscal deficit from 5.5 per cent in 2022 to 4.1 per cent in 2024, with a target of 3.8 per cent for this year.
He explained that the government has chosen a 'gradual' approach so that deficit reduction does not sacrifice development needs and market confidence.
Anwar said the move was in line with economic principles that emphasise financial discipline in the economic management of an entity, including the country.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Only 40% of Malaysians believe country is on the right track, says survey
Only 40% of Malaysians believe country is on the right track, says survey

The Star

time28 minutes ago

  • The Star

Only 40% of Malaysians believe country is on the right track, says survey

PETALING JAYA: Public satisfaction with the government's performance and the country's direction has declined in recent months, according to a new public opinion survey by the Institut Masa Depan Malaysia (Masa). The think-tank group said the survey, conducted between June 14 and July 19, involved 1,605 respondents aged 18 and above across Peninsular Malaysia through telephone interviews. 'Respondents were selected via stratified random sampling based on ethnicity, gender, age and geographic distribution. 'Only 40% of respondents believed that Malaysia is currently on the right track, a notable drop from 54% in Dec, 2024,' it said in a statement on Friday (July 25). Masa added the survey also found that the cost of living remained the most pressing concern among the public, with 53% of respondents citing it as their top worry—up from 48% in the previous poll conducted in December last year. The survey also found that public sentiment towards the country's economic performance has also turned more negative with just 37% of respondents said they were satisfied with the current state of the economy, down from 57% previously. Masa added that based on their survey as for personal income, only 34% said their financial situation was satisfactory, compared to 52% in December 2024. They said that on the proposed rationalisation of RON95 fuel subsidies, only 34% of respondents supported the move, while a majority of 51% opposed it. 'Among the reasons cited for rejecting the subsidy rationalisation were concerns that it would lower their standard of living (32%), lack of confidence in the government's ability or mechanisms to implement the plan effectively (11%), insufficient explanation from the authorities (7%) and perceptions that the plan was being rushed (4%). 'When asked about the performance of the current administration, only 41% of respondents said they were satisfied with the Madani government—down from 56% in the previous survey,' it added. Masa also added that public approval for Prime Minister Datuk Seri Anwar Ibrahim also fell, with only 33% expressing satisfaction with his performance, compared to 57% in December 2024. 'In contrast, Perikatan Nasional chairman Tan Sri Muhyiddin Yassin received a 41% approval rating, followed by Barisan Nasional chairman Datuk Seri Dr Ahmad Zahid Hamidi (15%) and Opposition Leader Datuk Seri Hamzah Zainudin (16%). 'As for their preferred candidate for prime minister in the 16th General Election, 33% of respondents chose Muhyiddin, followed by Anwar (25%), Ahmad Zahid (14%) and Hamzah (13%),' it said. Masa said the negative sentiments captured in the survey reflected growing public unease over several new government policies, including the expansion of the sales and services tax (SST), electricity tariff hikes, the rationalisation of subsidies, and persistent concerns about the rising cost of living.

Trump urges Europe to act on immigration during Scotland visit
Trump urges Europe to act on immigration during Scotland visit

The Sun

time28 minutes ago

  • The Sun

Trump urges Europe to act on immigration during Scotland visit

ABERDEEN: US President Donald Trump delivered a sharp message to Europe on immigration as he arrived in Scotland for a four-day visit to his golf courses. Landing late Friday, he warned that unchecked migration is 'killing Europe' and urged leaders to act swiftly. 'On immigration, you better get your act together,' Trump told reporters. 'You're not going to have Europe anymore if you don't. Last month, we had nobody entering our country—nobody. You've got to stop this horrible invasion.' The president, who is set to meet British Prime Minister Keir Starmer and Scottish First Minister John Swinney, praised Starmer as a 'good man' for securing a long-awaited trade deal. 'He got it done in 12 years—that's a good deal for the UK,' Trump said. Trade discussions are high on the agenda, with Trump hinting at a potential US-Europe deal, calling it the 'biggest deal of them all.' European Commission President Ursula von der Leyen will also visit Scotland to negotiate terms. Despite the diplomatic focus, Trump's trip has drawn criticism, with protests expected. Police Scotland has reinforced security with officers from other UK forces to manage demonstrations. - Bernama-PA Media/dpa

Malaysia's New Ambassador To US Pledges Stronger Bilateral Relations
Malaysia's New Ambassador To US Pledges Stronger Bilateral Relations

Barnama

timean hour ago

  • Barnama

Malaysia's New Ambassador To US Pledges Stronger Bilateral Relations

KUALA LUMPUR, July 26 (Bernama) – Malaysia's new Ambassador to the United States (US), Tan Sri Muhammad Shahrul Ikram Yaakob, reaffirmed his commitment to further strengthening the Malaysia–US bilateral relationship during a credentials ceremony with President Donald J. Trump at the White House. In a Facebook post on Saturday, the Embassy of Malaysia in Washington, D.C. stated that Muhammad Shahrul Ikram presented his Letter of Credence to Trump during the Presentation of Credentials Ceremony at the White House on July 24. The ceremony officially marked him as the 18th Ambassador Extraordinary and Plenipotentiary of Malaysia to the United States. bootstrap slideshow 'During the ceremony, Muhammad Shahrul Ikram had the opportunity to briefly exchange warm pleasantries with Trump, conveying his commitment to further strengthen the Malaysia–United States bilateral relationship. 'He also thanked the President for Secretary of State Marco Rubio's participation in the recent 48th ASEAN Foreign Ministers' Meeting and Related Meetings, held in Kuala Lumpur from July 8 to 11, which further reaffirmed the US's commitment to the region as well as the deepening of the Malaysia–US Comprehensive Partnership,' the embassy stated. Over the past six decades since 1957, Malaysia-US's ties have grown into a multifaceted partnership encompassing political, economic, defence and security, educational, and people-to-people cooperation. Muhammad Shahrul Ikram is a former Secretary-General of the Foreign Ministry and a veteran diplomat with over 35 years of service. Born in Pahang, Muhammad Shahrul Ikram holds a Bachelor of Science (Honours) in Ecology from Universiti Malaya and completed the Advanced Management Programme at Harvard Business School in 2009. He began his career at the Foreign Ministry in 1988 as an Administrative and Diplomatic Officer.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store