'We could go bankrupt by 2019'
MALAYSIA will go bust by 2019 if it continues to accumulate debt at the current rate of 12 per cent a year, a minister said.
To avoid the "Greek incident", Minister in the Prime Minister's Department Datuk Seri Idris Jala said the subsidies given to various sectors must be rationalised.
"Our debt currently amounts to RM362 billion. We don't want to end up bankrupt like Greece with a debt of E 300 billion (RM1.2 trillion).
"If we continue to borrow money at the current rate, we will go bankrupt in 2019 with a debt of RM1,158 billion," said Idris, who is also the chief executive officer of the Performance Management and Delivery Unit (Pemandu).
The government has made recommendations to increase prices of subsidised big ticket items such as fuel, gas, food and toll.
"The time for subsidy rationalisation is now. Otherwise, we have a time bomb on our hands," Idris remarked.
He said based on the Organisation for Economic Cooperation and Development (OECD) data, Malaysia's subsidy spending as a percentage of gross domestic product (GDP) was a staggering 11 per cent between 2006 and last year.
This was almost three times more than non-OECD countries like the Philippines and 55 times more than Switzerland, an OECD country.
"Our subsidy bill is not sustainable, especially in light of the rising budget deficit and government debt (as a percentage of GDP).
"It is higher than Indonesia at 28 per cent and getting closer to the Philippines at 62 per cent," he highlighted.
Idris said studies by Bank Negara Malaysia showed that inflation should rise to four per cent from 2011 to 2013, before slowing at three per cent post-2013 under "a less subsidised" environment.
He also said 97 per cent of the subsidies are dispensed on a "blanket" basis.
"It is given to everyone regardless of income level, for example, subsidised primary, secondary and tertiary education, medical services, petrol, sugar and cooking oil, as well as welfare aid and susten ance allowance."
Source: http://www.nst.com.my/nst/articles/28bust/Article/
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saya menyokong apa yang disuarakan oleh Datuk Seri Idris Jala, bahawa pemberian subsidi yang berterusan merupakan satu bom jangka yang akan meletup pada bila-bila masa untuk menggoncang ekonomi negara terutama keadaan negara kita yang kurang stabil iaitu penyediaan penawaran barangan asas yang terhad tidak dapat menampung permintaan rakyat.
Semua ini disebabkan sistem monopoli barangan asas selama ini telah menjadikan rakyat membeli secara panik. Harga barangan pengguna sentiasa dimanipulisi oleh orang tengah bagi menekan kenaikan harga umpama jongkang jongkit maka mekanisma pengaruh kerajaan ditagih bagi memastikan bekalan mencukupi di pasaran jika sasaran harga maksima pada waktu semasa dapat dinaikkan sedikit.
Bagi menyokong kerajaan dan memastikan ekonomi kita sentiasa berada dalam keadaan sihat
1. Kurangkan penghantaran wang ringgit ke luar negara. Lambakan wang ringgit di luar negara akan menjatuhkan nilai pasaran.
2. Gunakan wang ringgit sebanyak mungkin untuk berbelanja dalam negara supaya ekonomi negara kita terus mampan
3. Tukarkan wang fiat yang dimiliki kepada pelaburan emas. Nilai emas semakin baik saban hari membantu kita mendapat keuntungan berpanjangan dan menjadikan kita hidup dalam kesenangan. Pemilikan emas oleh masyarakat Malaysia akan memperkukuhkan lagi ekonomi negara secara tidak disedari.
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