Malaysia must focus on growth and not austerity, according to Boss Airasia

Tony Fernandes

KUALA LUMPUR – The Malaysian economy is currently in a good position and the government should focus on growth and not on austerity, said the president and CEO of the group AirAsia , Tan Sri Tony Fernandes

. its efficiency and productivity in order to create jobs and to be a driving force in ASEAN.

"Focus on industries that can generate revenue quickly and on technology and ideas that can bring significant growth." his last message on Twitter.

Fernandes said that having economic growth would allow the government to manipulate its debt.

He also believes that the ringgit will strengthen at around 3.80 against the US dollar soon.

Negara Bank Malaysia announced that the federal government's debt totaled RMB 686.8 billion at the end of 2017, or 50.8 percent of gross domestic product.

Subsequently, the Minister of Finance, Lim Guan Eng, declared that the federal government's debt and liabilities amounted to RM 1 088 billion as of December 31, 2017. [19659007Theadditionofthefederalgovernment'sdebtamountedtoRMB6888billionandthefederalgovernmenthadtorepayRM1991billionofthesameamountofmoneythatitcouldprovideheadded

.4 billion dollars in rents for rental, maintenance and other expenses for public-private partnership projects such as construction of schools, inns, roads , police stations and hospitals.

Earlier in the Dewan Rakyat today, Prime Minister Tun Dr. Mahathir Mohamad said that the government was planning to obtain a loan from Japan to reduce the "high cost of money," the interest rate on the debt taken by the previous administration being too high at six per cent.

anese yen was cheaper than the ringgit with a yen equivalent to 1 cent US, while RM1 was worth 25 cents US, and repaying Malaysia 's debt to the Japanese yen meant that the country would not be burdened with any. a high interest rate of more than 6%.

– BERNAMA