More than 2k cops for 'Turun Anwar' rally, SB projects 10k to 15k turnout
The protest aims to pressure Prime Minister Anwar Ibrahim to step down.
Kuala Lumpur acting police chief Usuf Jan Mohamad confirmed...
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New Straits Times
24 minutes ago
- New Straits Times
Why Malaysia's debt isn't the problem but misunderstanding it is
IN Kuala Lumpur, a quiet yet consequential shift is taking place in how Malaysia talks about its national debt. After years of loud warnings and political alarmism - much of it framed in simplistic terms about trillions of ringgit and looming bankruptcy - the government is beginning to reframe the conversation. And it's about time. Recently, Prime Minister Anwar Ibrahim made headlines by pointing out that Malaysia's new annual borrowings are actually on a declining path: RM100 billion in 2022, RM90 billion in 2023, RM85 billion in 2024 and a projected RM80 billion in 2025. To some, this might sound like spin. After all, total debt is still rising. But that misses the point. What the Prime Minister is signaling, without perhaps saying it directly—is that fiscal management is not about avoiding debt; it's about managing it smartly over time, especially in a country that has neither a retirement age, nor an expiry date. Too often, government debt is misunderstood through the lens of personal finance. The average Malaysian is familiar with home loans, car loans, and credit card debt, and when they hear that national debt has crossed RM1.25 trillion, the instinct is to panic. But a country isn't a household. It doesn't die. It doesn't retire. In fact, if managed well, a nation grows more productive and wealthier over time. That's why all modern economies carry debt - not as a sign of recklessness, but as a tool for strategic investment and long-term growth. What's dangerous isn't the size of Malaysia's debt in ringgit - it's how that number is politicised, decontextualised and misread. Remember the political storm a few years ago when critics claimed the country was heading toward bankruptcy at RM686 billion? That narrative has not stood the test of time because it was never grounded in fiscal reality to begin with. What matters more than any absolute number is Malaysia's deb-tto-GDP ratio, a metric that captures not just what is owed, but how well the country can pay it back. The post-pandemic fiscal landscape makes this all the more urgent. Like every nation, Malaysia took on extraordinary debt during the Covid-19 crisis to keep the economy alive and people afloat. Between 2009 and 2019, new borrowings averaged RM44 billion a year. By 2022, that number surged to RM100 billion. The government did what it had to do. Now, as the storm clouds begin to lift, the real work begins, not to slash debt overnight which would stall the recovery but to steer it gradually toward sustainability. This is where the Prime Minister's signal matters. Reducing new borrowings year by year is a prudent strategy, not a gimmick. It's like shifting down gears on a winding mountain road - slow, steady, and controlled. But even smart strategies need clear goals. That's why some economists are calling on Putrajaya to go one step further: announce a formal debt-to-GDP target and a timeline to get there. Better yet, pass the long-awaited Fiscal Responsibility Act to anchor future decisions in law, not just politics. According to Tan Sri Professor Noor Azlan Ghazali, who heads the Malaysian Inclusive Development and Advancement Institute (Minda-UKM), if Malaysia can maintain annual GDP growth of 5.0 per cent while reducing new borrowings by five per cent each year, projections show its debt-to-GDP ratio could fall to 54.6 per cent by 2038. That's a number the rating agencies and foreign investors would take seriously. It also gives Malaysians something to hold their leaders accountable to. After all, without targets, fiscal policy becomes just another "maybe." Noor Azlan explains that there's a broader truth hiding in plain sight here: zero debt is not the goal. In fact, for a developing country trying to climb the technological and green energy ladders, zero debt is a trap. The real question is not whether Malaysia should borrow, but what it borrows for, how it pays it back, and whether it's building a future or just patching holes. What's needed now is a new kind of fiscal literacy, one that treats national debt less like a household budget and more like what it truly is: an economic steering wheel. That means recognising that even cough syrup, if taken all at once, can be toxic. Taken properly, in measured doses and with the right guidance, it heals. So here's the challenge: Can Malaysia manage its debt like a doctor would prescribe medicine carefully, deliberately and with an eye on the long-term prognosis? If it does, it just might turn today's fiscal anxiety into tomorrow's competitive edge. *The writer is an economist, adjunct lecturer at Universiti Teknologi Petronas, international relations analyst and senior consultant with Global Asia Consulting. The views expressed here are his own.
The Star
an hour ago
- The Star
‘Unity fuels govt strength'
For the people: Anwar being greeted warmly by attendees of the 'kenduri rakyat' during the government administration and parliamentarians' retreat at Dataran Kampung Pachitan in Port Dickson. — Bernama PORT DICKSON: The government is strong because it adheres to the principles and spirit of unity among its coalition partners, as well as their shared commitment to developing the country, says Datuk Seri Anwar Ibrahim. The Prime Minister acknowledged that while each party within the government may hold different beliefs and stances, their unity and cooperation remain exemplary. 'Although we are a coalition of parties, the spirit to develop the country makes the cooperation and spirit extraordinary. 'I want to thank Deputy Prime Ministers (Datuk Seri Dr) Ahmad Zahid Hamidi (of Barisan Nasional), (Datuk Seri) Fadillah Yusof (Gabungan Parti Sarawak) and all other colleagues for their unwavering unity spirit,' he said. The Prime Minister said this at the Kenduri Rakyat programme held in conjunction with the government administration and parliamentarians' retreat at Dataran Kampung Pachitan yesterday. He said the retreat, attended by 143 MPs, is a testament to the government's commitment to ensure the well-being of the people and that their problems were heard and resolved. The government, he said, also remained steadfast in ensuring the country continues to prosper. 'This is a special occasion as we have the PM, both deputy prime ministers and several Cabinet ministers in a village where we discussed issues faced by the people and how best we can resolve them. 'From the macro economy perspective, our economic growth is good with low inflation and unemployment. 'However, I am fully aware there are people who still face hardship. Let me assure you the government is here to hear you out,' he said. The lawmakers took part in the three-day retreat where they personally interacted with the people during several activities. The programme aims to foster closer ties between the elected representatives and the people in a more relaxed environment. It also seeks to allow them to engage directly with the people and offer them a platform to voice their needs and concerns. Anwar gave his assurance that his administration would always hear out the grassroots before making any decision. When met at the event, Fadillah said this was the first time that members of the government's administration and MPs from across the country have come together for a kenduri rakyat (people's feast). Home Minister Datuk Seri Saifuddin Nasution Ismail described the programme as a meaningful experience that allowed him to connect with residents, gain insights into their daily activities and explore the area's economic potential. The Backbenchers Club said the programme was a manifestation of principles that celebrate the values of compassion, mutual respect and unity within society. 'This is an example of the value of ihsan (compassion) and social responsibility, which are the pillars of the Malaysia Madani philosophy,' it said in a statement.
Barnama
10 hours ago
- Barnama
PM Holds Closed-Door Meetings With Negeri Sembilan PKR Members, Division Heads
SEREMBAN, July 20 (Bernama) – Prime Minister Datuk Seri Anwar Ibrahim spent nearly an hour meeting Negeri Sembilan PKR members during his Party Organisation Strengthening Seminar and Presidential Tour for the state at a hotel here today. The closed-door session with the PKR president, attended by nearly 1,000 party members, was also joined by party vice-presidents Datuk Seri Aminuddin Harun, who is also Negeri Sembilan Menteri Besar, Minister of Science, Technology and Innovation Chang Lih Kang, and Deputy Minister of Entrepreneur Development and Cooperatives Datuk Seri R. Ramanan. Also present were PKR Secretary-General Datuk Dr Fuziah Salleh, Women's wing chief Fadhlina Sidek, and Youth chief Muhammad Kamil Munim. bootstrap slideshow Following the main programme, Anwar held a closed-door meeting with Negeri Sembilan PKR division heads at the same hotel. Fuziah, when met, said the programme is part of a nationwide tour aimed at strengthening party solidarity and reuniting grassroots leadership across the country. The Deputy Minister of Domestic Trade and Cost of Living added that the meeting with division leaders included all division heads in the state, whether winners or losers in the party's recent internal elections. bootstrap slideshow 'We want to bring everyone back together, because there's a lot of work to be done. We are not fighting enemies—we are having disputes among siblings. Therefore, unity and togetherness are crucial to move the party forward,' she said. On another note, Fuziah said the PKR president also stressed that there is no issue of membership suspension involving nine of its Members of Parliament. She said the Prime Minister explained that the matter does not arise as all the MPs were merely voicing their views on people's issues.
