Lim said that Putrajaya had redeemed RM11.8 billion worth of direct debt — RM1.8 billion more than it borrowed.

“It shows that those claiming otherwise are either serial liars, ignorant or unable to read financial data accurately,” he said in a statement today.

Previously, citing Bank Negara Malaysia figures, former prime minister Najib Razak said that as of Oct 29, the government had borrowed RM10 billion without repaying a single sen.

Lim also said that for the remaining two months of the year, the government would issue RM14.2 billion in gross direct debt and repay RM21.6 billion.

“Therefore, the net direct debt issuance for the period will be RM7.4 billion.

“The government’s financing activities are proceeding as planned, as demonstrated by the actual issuance and redemption of the government’s direct debt,” he said.

Lim said the government was confident of meeting its 2019 fiscal deficit target of RM52 billion or 3.4% of GDP.

He said the top three global credit rating agencies shared this confidence as evidenced by their reaffirmation of Malaysia’s sovereign credit rating at A- or A3 with a stable outlook since the change of government in May 2018.

He said the government plans its budget on a yearly basis and that any analysis of month-by-month fiscal deficit must take the yearly plan into account.

“The latest full-year plan estimates that the government will raise RM135 billion worth of gross direct debt, and redeem RM83 billion.

“As a result, the net direct debt to be raised for the whole of 2019 is estimated to be RM52 billion,” he said.