Economy Minister Rafizi Ramli chided Machang MP Wan Ahmad Fayhsal’s idea of printing money to solve economic crises, explaining why it’s unfeasible. In a post on X, Rafizi explained that giving every family RM1 million would cost RM8 trillion, leading to severe inflation and the collapse of the ringgit’s value. Borrowing such a sum would push Malaysia’s debt to 500% of its GDP, and lenders would demand exorbitant interest rates, crippling the country with over RM1 trillion in annual interest payments. Rafizi’s post highlights the dangers of oversimplified solutions to complex economic problems.
Read more LM News
