Listen to the experts, economy is okay, says Najib

Prime Minister Najib Razak says all economists believe Malaysia’s economy is on the right track.

KUALA LUMPUR: Prime Minister Najib Razak has again disputed claims that the nation is heading for bankruptcy, pointing to economists who say Malaysia’s economy is on the right track.

He said Pakatan Harapan (PH) was the only group which said that Malaysia would go bankrupt.

“All economists praise our economy, saying it is on the right track whereas PH is the only entity which peddles that Malaysia will go bankrupt,” he said on his Facebook and Twitter accounts yesterday.

He said funds such as Amanah Saham Nasional (ASN), Amanah Saham Bumiputera (ASB), Pilgrims Fund Board (TH), Bank Rakyat, Employees Provident Fund (EPF), Armed Forces Fund Board (LTAT) and Retirement Fund (Incorporated) (KWAP) were often targeted by the opposition to frighten the people into believing that the country was going bankrupt.

However, Najib said the funds had in fact recorded encouraging performances in line with the economic expansion.

“Like ASN/ASB, TH, Bank Rakyat, EPF and LTAT, KWAP too recorded encouraging performance for 2017.

“In fact, the gross income in 2017 was RM9.03 billion, the highest amount since the setting up of KWAP,” he said.

KWAP recorded a gross income of RM9.03 billion in 2017 compared to RM6.36 billion in 2016.

Its CEO Wan Kamaruzaman Wan Ahmad said the size of its fund had gone up to RM140.80 billion and exceeded the early target of RM136.6 billion last year.