Critics should not focus solely on the nation's debt to gross domestic product (GDP) ratio in assessing the government's ability to manage debt.
According to Second Finance Minister Johari Abdul Ghani, other countries have far higher debt to GDP ratios and yet are doing fine.
He said what was more important was the fact that Malaysia was able to service its debt and despite the 1997 and 1998 economic crisis as well as 2008 and 2009 world financial crisis, Malaysia has been able to service its debt.
According to Second Finance Minister Johari Abdul Ghani, other countries have far higher debt to GDP ratios and yet are doing fine.
He said what was more important was the fact that Malaysia was able to service its debt and despite the 1997 and 1998 economic crisis as well as 2008 and 2009 world financial crisis, Malaysia has been able to service its debt.
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