根據財經刊物《The Edge Markets》早前的報道，若以每年10.7%的增長率計算，大馬國債將於2021年達1兆令吉，到了2028及2032年，將分別達到2兆及3兆令吉。所以，不能不防債務危機，現在就必須削減營運開銷，不好債留子孫。
在戊戌狗年到來之前，國家銀行公布2017年第四季經濟增長5.9%，全年成長5.9%，創下3年來新高，政黨領袖藉此在新春活動上製造喜悅的氛圍，但他們卻沒有告訴人們事情的另一面。
首相在上個月表示，大馬去年的國債達6851億令吉，占國內生產總值的50.9%，情況比先進國好，例如新加坡的國債是112%。新加坡《海峽時報》為此報道說，新加坡只是用總收入的6.1%來支付債務，而大馬卻動用12.5%的收入來支付利息。這也就是說，政府每賺到1令吉，12.5仙是用來還債。
報道指出，納吉於2009年出任首相時，利息負擔少過9%。而大馬政府預計今年須支付310億令吉的貸款利息，這筆款項比2009年高出兩倍。
去年政府徵收了440億令吉的消費稅，超過三分之二用來攤還利息，難怪政府在徵收消費稅後，一直拿不出錢來刺激疲弱的消費情緒。
根據報道，大馬政府也不時為國營公司紓解財困，有關款項沒有列為償債項目，而是被列為「策略領域付帳」
或「其他付帳」，比如國家基建公司在2016年蒙受21億令吉虧損，陸續獲得政府注資。
假如政府的擔保及或有負債加入總債務，國債占GDP比率將上升到69%。
若政府要為這些國營公司支付40億令吉的利息，償債款項將從今年占總收入的13%增至14.7%。
大馬的國營公司虧損，反觀獅城的國有企業及投資公司卻賺大錢，差別在於專業的管理與監督、重用人才，以及布局全球。
2007年大馬國債為2667億令吉，去年增至6851億令吉，平均10年增長逾10%。
根據財經刊物《The Edge Markets》早前的報道，若以每年10.7%的增長率計算，大馬國債將於2021年達1兆令吉，到了2028及2032年，將分別達到2兆及3兆令吉。所以，不能不防債務危機，現在就必須削減營運開銷，不好債留子孫。
另一個很少人知道的事情是，新加坡政府發出非交易型的債券只是一種紙上遊戲，目的是要吸納中央公積金的存款；新加坡財政部利用這些資金進行投資，定期發息，惠及新加坡人。
新加坡財政預算案幾乎年年收支平衡，甚至把盈餘分發給人民，這就是真正的故事。
此外，政府領袖也經常自誇我國為「中庸和進步的伊斯蘭國」，但是最近發生的事情，卻不是這回事。
譬如，馬來報章《陽光日報》在一則報道中教導人們如何辨認「男女同性戀、雙性戀和跨性別者」（LGBT），涉嫌刻板化性少數群體，登上多家國際媒體，引起海內外網民的不滿。
香港出櫃歌手何韻詩也據稱因為積極支持LGBT社群，演出工作證不獲當局批准，而被迫取消原定於4月14日在吉隆坡舉辦的演唱會。
有太多這類缺乏寬容的例子，比如迪士尼真人版電影《美女與野獸》因含有少量同志情節，一度被禁映；衛生部舉辦比賽，徵求如何防治同性戀的影片，遭批評後修改競賽規則；穆斯林組織公開要求政府，重新評估星巴克、微軟的商業執照，因為它們支持同性婚姻及同志群體；登州行政議員披露，該州計劃推出針對跨性別女性的「改變性向治療課程」。
當政府宣稱大馬是中庸國家時，事情的另一面是，當局縱容保守人士，以致發生許多荒謬事件。
政府將修法對付散播假新聞者，但也應該關注透明度的問題，不要讓假象蒙蔽了真相。
Read in English on MySinchew: What we don’t know about the state of Malaysia’s economy
文章來源：
星洲日報/風起波生·作者：林瑞源·《星洲日報》副執行總編輯·2018.02.20
What we don’t know about the state of Malaysia’s economy
By LIM SUE GOAN
Sin Chew Daily
Shortly before the arrival of the Year of Dog, Bank Negara announced the 5.9% GDP growth for the last quarter of 2017 and a three-year high of 5.9% growth for the whole year as well.
While political leaders are immersed in the joyful mood during the recent festive celebration, they nevertheless failed to tell the public the other side of the story.
PM Najib said last month that the country’s government debts stood at RM685.1 billion last year or about 50.9% f the country’s GDP. By comparison, Singapore’s public debts were 112% of its GDP.
The Straits Times of Singapore clarified in a report that only 6.1% of the city-state’s GDP was used to pay the debts while Malaysia used 12.5% to settle loan interest. This means that for every RM1 earned by the Malaysian government, 12.5 cents is used to pay our debts.
The report also said Malaysia used less than 9% of its GDP to settle debts when Najib took over as the prime minister in 2009, and that the amount expected to be used to settle bank interest this year would be twice as high as in 2009, at RM31 billion.
The government collected a total of RM44 billion from GST last year, and more than two-thirds of this amount was used to settle bank interest. Now we understand why the government has been unable to stimulate the frail consumer sentiment despite the strong GST collection.
According to the report, the Malaysian government also kept bailing out ailing GLCs and that such payments were not recorded as debt service but as “strategic sector payments” or “other repayments”, including the payments made to Prasarana whose annual losses spiked to RM2.1 billion in 2016.
If the government’s guarantees and contingent liabilities are added to its total debt, its debt-to-GDP ratio would rise to 69%!
And if the government were to foot RM4 billion in interest payments for these firms, its debt service bill would rise to 14.7% of its total revenue from the 13% expected this year.
Malaysia’s GLCs have been incurring heavy losses while Singapore’s government-linked companies are making hefty profits. The difference lies with how we manage the companies and harness our own talented people.
The country’s national debts rose from RM266.7 billion in 2007 to RM685.1 billion last year at a rate of more than 10% annually.
The Edge Markets reported earlier that based on 10.7% of annual growth rate, Malaysia’s public debts could reach RM1 trillion by 2021, rising further to RM2 trillion and RM3 trillion in 2028 and 2032 respectively.
Consequently, we need to drastically cut down operating expenses to avert a possible debt crisis.
Another fact that; few people are aware of is that the non-traded bonds issued by the Singapore government is only a form of paper game aimed at absorbing part of the Central Provident Fund deposits which the city-state’s finance ministry will use for investment purposes in order to distribute regular dividends for the benefit of Singaporeans.
It is true that Singapore has managed to strike a budgetary equilibrium for almost every year and has turned over the surplus back to the citizens.
In the meantime, our government leaders keep bragging about us being a “moderate and progressive Islamic country” but a spate of recent events point to the other way.
For instance, Sinaran Harian taught its readers how to identify LGBT individuals in an attempt stigmatize this group of people.
Hong Kong lesbian singer Denise Ho was denied a permit to perform here for her open support of the LGBT community, and was forced to cancel her concert scheduled for April 14 in KL.
We simply have too many instances of non-tolerance, including the ban once slapped on Walt Disney’s Beauty and the Beast, a ministry of health video making contest on the prevention of homosexuality, and calls by Muslim organizations to review the permits of Starbucks and Microsoft for their endorsement of same-sex marriage and LGBT community.
A Terengganu exco even said his state was prepared to launch a sexual orientation correction course for transgender women.
When the government proclaims Malaysia as a moderate country, it has nevertheless condoned a small group of irresponsible individuals with their absurd acts.
While the government is taking steps to stop people from disseminating false information, perhaps it should also consider enhancing news transparency and not to allow the illusion to mask the truth.