Skip to main content

Strict fiscal discipline to tackle govt debts - Finance Minister



LUALA LUMPUR, -- Strict compliance with fiscal discipline as well as better debt management will continue to be given emphasis to tackle the federal debt of over RM1 trillion, said Finance Minister Lim Guan Eng.
He said good debt management would be maintained to ensure the fiscal position and macroeconomy remained strong for managing any crisis.
“Fiscal accountability will reassure investors and the capital market that the government still has flexibility in fiscal and monetary policies,” he explained.
He was responding to an oral question from Selayang Member of Parliament (MP) William Leong Jee Keen in the Dewan Rakyat regarding measures planned to tackle the nation's debt and liabilities.
Bernama report, Lim said several measures were being implemented to ensure the Federal debt level was kept under control and sorted out.
Among others, the government is reviewing existing projects that are costly, whereby the total costs are being studied to avoid being charged excessively.
Mega-infrastructure projects such as Kuala Lumpur-Singapore High-Speed Rail, Mass Rapid Transit and East Coast Rail Link were also being reviewed by analysing their cost structure, necessity and priorities to ensure the government's ability to fund them as well as service the loans taken, he said.
The government, Lim noted, also provided annual allocations under its management expenditure to ensure the principal and interest were serviced according to the stipulated repayment period, loans were partly refinanced at lower rates, and economic growth remained strong to boost the government's income. 
Meanwhile, Kepala Batas MP Datuk Seri Reezal Merican Naina Merican, in a supplemental question, sought explanation on the rise in direct government debt from RM687 billion to RM702 billion.
Lim attributed the increase to the Malaysian Government Securities (MGS) issuance between May and July this year which involved an additional RM22 billion, of which RM8 billion was for redemption or debt roll-over while RM14 billion was for financing purposes.
Lim said this increase resulted from the contingent liabilities under the former government turning into direct debt.
 He also stressed that the MGS issuance was not used to finance the new government such as to cover revenue shortfall following the removal of the Goods and Services Tax.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Mahkamah meriah dengan tahanan reman lindungi rumah urut

PUTRAJAYA -- Mahkamah Majistret di sini “meriah” susulan prosiding reman beramai-ramai melibatkan 14 individu termasuk tujuh penjawat awam berkaitan dakwaan memberi dan menerima wang sogokan bagi melindungi premis urut di Kuala Lumpur. Tujuh penjawat awam terbabit ialah tiga anggota polis termasuk seorang ketua balai, seorang pegawai bomba dan tiga petugas Dewan Bandaraya Kuala Lumpur. Mereka berserta tiga lagi orang awam yang disyaki berperanan sebagai ‘runner’ atau utusan dibawa ke mahkamah itu pada kira-kira 10 pagi menaiki bas Suruhanjaya Pencegahan Rasuah Malaysia (SPRM), menyusuli empat lagi individu dipercayai pemilik premis yang tiba di mahkamah itu kira-kira sejam sebelumnya, menaiki van SPRM.    Prosiding reman terhadap kesemua mereka tamat pada kira-kira pukul 1.30 tengah hari denga...
Post a Comment
Read more

Ancaman obor-obor di Pulau Pinang serius

foto: flick.com GEORGE TOWN -- Kerajaan negeri Pulau Pinang memandang serius kes sengatan obor-obor berbahaya yang mampu menjejaskan aktiviti pelancongan dan sukan air serta laut di negeri ini. Exco Negeri bagi Seni, Budaya dan Warisan Yeoh Soon Hin berkata  kerajaan negeri telah memberikan dana berjumlah RM10,000 pada tahun 2017 kepada Pusat Kajian Samudera  dan Pantai (CEMACS), Universiti Sains Malaysia untuk mebuat pemantauan taburan dan kepadatan obor-obor berbahaya di perairan Pulau Pinang khususnya di Teluk Bahang, Batu Ferringhi, Tanjung Bungah , Tanjung Tokong dan Pantai Bersih/Robina. "Kajian pemantauan taburan dan kepadatan obor-obor sedang dijalankan bagi tempoh dua tahun yang akan berakhir pada hujung tahun ini. Fenomena obor-obor ini tidak terhad kepada perairan Pulau Pinang tetapi keseluruhan pantai barat termasuk Pulau Langkawi dan Pulau Pangkor. “Peningkatan kes sengatan obor-obor berkemungkinan besar disebabk...
Post a Comment
Read more

Datuk Seri didakwa menipu RM19 juta

SHAH ALAM -- Seorang ahli perniagaan bergelar 'Datuk Seri' dihadapkan ke Mahkamah Sesyen di sini hari ini atas tiga pertuduhan menipu seorang pengarah urusan membabitkan RM19 juta berhubung siasatan projek terowong dasar laut Pulau Pinang, dua tahun lepas. M. G. Gnanaraja, 38, bagaimanapun mengaku tidak bersalah selepas kesemua pertuduhan terhadapnya dibacakan di hadapan Hakim Rozilah Salleh. Dia didakwa memperdayakan pengarah urusan Consortium Zenith Construction Sdn Bhd  untuk mempercayai bahawa dia boleh membantu mangsa menutup siasatan yang dimulakan oleh Suruhanjaya Pencegahan Rasuah Malaysia (SPRM) terhadap mangsa di bawah Akta Pencegahan Wang Haram, Pencegahan Pembiayaan Keganasan dan Hasil Daripada Aktiviti Haram 2001. Sehubungan itu, tertuduh didakwa dengan curangnya mendorong pengarah urusan tersebut menyerahkan kepadanya wang tunai RM4 juta dan RM15 juta melalui transaksi akaun Maybank milik Syarikat Visione Construction Sdn Bhd ke akau...
Post a Comment
Read more