Najib pans economic control of ‘gagalkrasi’ PH

Former prime minister Najib Razak.

PETALING JAYA: Former prime minister Najib Razak took a swipe at Pakatan Harapan’s (PH) handling of the economy today, saying the country’s debt would have ballooned up to RM1.2 trillion if the coalition had continued at the helm.

He also listed the higher deficit, reduction in aid for the people, sale of national assets and negative economic growth.

Labelling the PH administration a “gagalkrasi” or “failure-cracy”, he said the debt had increased by RM136.8 billion in a matter of 22 months excluding the issuance of samurai bonds.

If PH had remained in power, he claimed, the national debt would have surged between RM400 billion and RM500 billion.

“By the end of their term, the country’s national debt would have come up to RM1.2 trillion if their government had not collapsed,” he said.

Najib, who had also held the finance ministry portfolio, said Barisan Nasional’s debt had stood at RM686.8 billion before PH took over.

Even then, the Pekan MP said, the biggest increase was from the impact of the global recession in 2009.

“It must be pointed out that the country’s riches increased to RM2 trillion from RM1.2 trillion during my tenure as prime minister, which was recognised by the country’s seventh prime minister,” he said, referring to Dr Mahathir Mohamad.