PM Najib Says 'Bankruptcy' Is Never In Malaysia's Economic Dictionary

KUALA LUMPUR, Oct 22 (Bernama) -- Prime Minister Najib Razak has squashed allegations that Malaysia will go bankrupt, saying its merely a misconception and misperception. "I would like to clarify that a government is declared bankrupt only if it is unable to pay off its debt," he said during the tabling of the 2017 Budget in Parliament Friday. Among the reputable international rating agencies, Fitch had rated Malaysia with A- compared with the Philippines (BBB-), Thailand (BBB+) and Vietnam (BB-). "In fact, our rating is similar to that of advanced and larger economies such South Korea (AA-), China (A+), Taiwan (A+) and Japan (A). "This means, bankruptcy is never in Malaysia's economic dictionary!" he said. Despite external headwinds, Malaysia is set to register economic growth of 4-4.5 per cent this year and 4-5 per cent next year as the government continuously makes efforts at stimulating the economy. -- BERNAMA