Tengku Zafrul rubbishes economic bankruptcy notion

Tengku Zafrul rubbishes economic bankruptcy notion

Updated 3 hours ago ·
Published on 19 Jul 2022 3:41PM ·

Minister of Finance Tengku Zafrul Abdul Aziz has told Parliament today that the IMF is confident of Malaysia’s economic growth prospects. – The Malaysian Insight file pic, July 19, 2022.

MALAYSIA’S economy is far stronger than that of Sri Lanka, if the two countries’ economic indicators are being compared, and the possibility for this country to go bankrupt is very slim, Minister of Finance Tengku Zafrul Abdul Aziz said.

According to the minister, the International Monetary Fund (IMF) has never stated that Malaysia is experiencing economic problems that would result in the country going bankrupt.

Instead, he said the international body is confident in Malaysia’s economic growth prospects.

“In April this year, the IMF expressed confidence that the country’s gross domestic product (GDP) for 2022 will grow at a rate of 5.75%,” he said during Minister’s Question Time session in the Dewan Rakyat today, in response to a question from Ahmad Maslan (Pontian-BN) whether Malaysia’s debt level was still manageable and whether the country could suffer the same fate as Sri Lanka.

“Nevertheless, the government must continue to manage the country’s finances prudently and control the level of debt in terms of affordability,” he added. – Bernama, July 19, 2022.

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