PUTRAJAYA - Prime Minister Datuk Seri Anwar Ibrahim says the national debt, including liabilities, has hit RM1.5 trillion and needs to be urgently addressed.
He said this was revealed in the International Monetary Fund (IMF) projections which showed that the economy has continued to be on a downward trend.
Anwar said that the government could not look at things from the usual perspective and must be transparent with the public about the national and global economic situation.
"Our challenge is the national debt which has reached almost RM1.2 trillion and if we include our liabilities, it’s already RM1.5 trillion,” he said during the 2023 Budget Dialogue Council today.
He stressed that his approach towards the economy was different from politics.
"The approach must be based on reality which is numbers, data, and facts, and the reality is the economy situation has not receded," he stated.
He also explained that this issue was related to international and global development such as the Russia-Ukraine war and Covid-19 post-pandemic.
"The economy is still considered soft. It is also due to international developments such as the Russia-Ukraine conflict and the global economy which has yet to recover fully post-Covid-19.
He urged economic leaders, business owners, government officials, and other influential people to not take the current state of affairs lightly.
"We cannot be under the impression that we are entering 2023 in a comfortable position.
"If there is a culture of complacency, we will not be able to drive the desired economic growth," Anwar said.