Malaysia’s Prime Minister Mahathir Mohamad has announced that his administration is taking various approaches to reduce the national debt from 1 trillion RM (251.2 billion USD) to 800 billion RM, including dissolution of some agencies, the News Straits Times reported on May 27.
Malaysia’s Prime Minister Mahathir Mohamad (Source: thestar).
Mahathir
said that one of the first measures is to cut down government spending.
Specifically, the Government will reduce several employees who are recruited to
serve political parties, not the government.
The same applies to several agencies which are not managed by
the government but use government funds, he added.
The leader also pointed to several reasons leading to the
high debt.
According to him, there are companies wholly owned by the
government but not subject to government laws and regulations. These borrowed
large amounts that were then lost or stolen.
Source: VNA
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