Former finance minister Tengku Razaleigh Hamzah has rubbished claims by the opposition bloc that the country was going to bankrupt.
Indeed, the Gua Musang MP expressed confidence that the federal government under the leadership of Prime Minister Najib Razak was capable of managing the country’s finances well.
He said although Malaysia was affected by the global economy and debts, the country was capable of overcoming it.
“We are confident of the economy recovering soon and the value of the ringgit will to be better and will stabilise,” he said, as reported by Bernama.
The Kelantan prince said this in response to claims by the opposition that the government was facing bankruptcy due to the global economic pressure.
Razaleigh, who is commonly known as KuLi, said it was normal for a country to have debts, adding that world power, the United States had more debts than Malaysia.
However, he sad country had many assets to cover its debts.
“The claim by the opposition that Malaysia would bankrupt soon was not true.
“The problem of economic pressure happens in all developed countries, but they have their rehabilitation plans,” he told reporters on Saturday.