Wednesday, 09 Dec 2020 11:46 AM MYTDAP’s Lim Guan Eng says Malaysia's sovereign credit rating is ‘beyond salvation’ because Prime Minister Tan Sri Muhyiddin Yassin had failed to address concerns of political instability and poor governance. — Picture by Hari Anggara
“He should set a course correction and spend an additional RM45 billion next year to protect economic growth, the same amount as he spent in this year’s stimulus package,” Lim said in a statement today. He warned that Malaysians will pay an even higher price if the prime minister continues to dismiss the two principal concerns mentioned by Fitch, namely political instability and poor governance standards and transparency.
He pointed out that Gua Musang MP Tengku Razaleigh Hamzah had ironically rejected the Petronas chairman post he was offered as he had deemed it unconstitutional. He said the government’s total debt and liability exposures are estimated to be RM1.257 trillion, or 87.3 per cent of the gross domestic product , as at the end of September 2020.