In a brief explainer of how the economy works for a government, Minister of Economy Rafizi Ramli says printing money ala-PN style is dumb. He says the idea came from PN who thinks the national debt can be solved just by printing more ringgit.
PN Board Games
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The minister says to print money means to increase our debt, and it is unlike the board games like Saidina or Monopoly. PN is suggesting in its campaign for the PRN in August that government should print money to pay debts.
Economy and printing money
Rafizi says to print money, the government must issue bonds. These bonds are then bought by the public or institutions. The bonds are equivalent to debts because the money from the bonds come from people who put their money in the bonds. This is how the government ‘prints’ money. It is not that the government can go to the national printer and say print 1 billion ringgit and it is printed.
Watch the Rafizi short video below:
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