Prime Minister Najib Razak rubbishes claim that Malaysia is going to bankrupt.
During his Budget 2017 speech Najib explained that based on Fitch ratings Malaysia is rated A- compared to other countries such as Phillipines with BBB-, Thailand BBB+ and Vietnam BB-.
He said if a country can’t pay back its debt then only it should be considered as bankrupt.
However, Malaysia is capable to pay back its debt. Therefore, bankrupt in economic dictionary is far away.
He also slammed some quarters that has alleged that ‘Malaysia is a failed nation’.
Najib defends it’s just a misperception created by unscrupulous quarters.
It’s a blind allegation that is thrown against the government of the day.
Recently, former prime minister Mahathir Mohamad has claimed that the Budget 2017 is just a ploy as the government has no money to fulfill its promises.