Minister of Economy, Rafizi Ramli, has stated that the government will not incur high levels of debt beyond the deficit level just to boost the popularity of the prime minister among the people. While the government is willing to continue spending big, it will be done in a prudent manner to achieve the best value.
Rafizi Ramli’s explanation
Rather than borrowing excessively, which could put the country in a precarious position. Rafizi emphasised that the government cannot take on RM200 billion to RM300 billion in debt due to the higher international interest rates. This will result in high payments that will be inherited by the administration and future generations.
He also pointed out that the country should not inherit debt payments of up to RM40 billion each year, some of which are due to previous administrations. Rafizi made these comments during the oral question and answer session in the Dewan Rakyat, in response to questions on government spending and borrowing.
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