Abdul Khalid: 53 Percent Debt-To-GDP, National Economy in Danger


Bandar Tun Razak, 16 FEB: The Central Government’s measures to fix the countries debt-to-GDP ratio at 53 percent is a move which is brave but dangerous to the nation’s economy, said Chief Minister Tan Sri Abdul Khalid Ibrahim.

According to him, the ratio that cannot exceed 53 percent was set by the BN Cabinet Ministers themselves, altogether demonstrating that the government itself recognises the worrying increase in national debt.

Abdul Khalid who is also the Bandar Tun Razak Member of Parliament said this during the Federal Territory level Chinese New Year Celebration press conference this afternoon.

He explained that the same ratio was also set when former Prime Minister, Tun Dr Mahathir Mohamad held office as the Prime Minister of Malaysia.

“I feel that the figure was set by the BN Cabinet, stating that it should not exceed 53 percent, indicates that BN themselves feel that it (the economy) is in danger.

“The 53 percent rate shows that BN is brave in the face of danger and I feel that during the time of Tun Mahathir, the same figure was set.

“(Currently) he (Mahathir) says that this figure is incorrect, I think that he has forgotten the decision he made (previously),” said Abdul Khalid who earlier confirmed that he will be defending the Bandar Tun Razak parliamentary seat which he won in 2008.

Dr Mahathir said in a statement to the media earlier said that the country’s debt-to-GDP ratio at the rate of 53 percent, currently faced by the country, shows a healthy economy.

Earlier, the Chinese New Year celebration held here was attended by almost 5,000 people, flooding the football field in Taman Bukit Anggerik Cheras.

Also present at the ceremony was a famous local dramatist, Abu Bakar Juah, who managed to get the autograph of Pakatan Rakyat Chief, Datuk Seri Anwar Ibrahim, on a year 1999 poster calender from his collection which features the incident of the onset of the reform wave in the year before it (1998).

Also spicing up the ceremony was the PKR Vice President, Tian Chua and the Federal Territory PAS Commissioner, Mohamad Nor Mohamad.

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