Government Committed To Restore Malaysia's Economy - Minister Lim Guan Eng

GEORGE TOWN (Penang, Malaysia), Dec 1 (Bernama) -- The government will always strive to ensure Malaysia is back to being clean and good, as clean and well-being and its economy is at an encouraging growth rate, said Finance Minister Lim Guan Eng. He said currently, the task was tough for the new government and it needed at least three years to do bring back the country on track. “It is certainly not an easy task. We need quite a long time, but in the 2019 Budget, we set a three-year period to bring the country back on track, but it does not mean we can reduce the debt, but at least in a healthy situation where we can deal with big debt problems amounting over 1 trillion, problems of not enough funds and others. "Although the economic situation now is bad, I am confident, and looking at the projections, not only in terms of higher foreign direct investments (FDI), in fact in the latest Bloomberg economic report, amongst all developing countries, Malaysia is number one,” he said, adding that this was despite only six months after Pakatan Harapan (PH or Alliance of Hope) took over the government. “That is only just the beginning, we have a long way more to bring back the country on track, but at least we are on the right track. That's important. If we look at the amount of foreign investments coming to Malaysia for the first nine months, it is encouraging. “Last year, it was about RM14 billion, but for the first nine months of this year, it was RM49 billion, almost four-folds. (US$1 = RM 4.18) "This is a very good sign indicating increasing confidence by other countries under the leadership of Prime Minister Dr Mahathir Mohamad who is trying to bring Malaysia back on track and to let the world knows that Malaysia is now free from the grip and shackles of global kleptocracy and has become a become a healthy democratic country,” he added. -- BERNAMA