KUALA LUMPUR: The will implement a strict fiscal management to ensure the nation’s micro-economy position remains strong, while its financial crisis is addressed.
Finance Minister, Lim Guan Eng said the ministry's main thrust in managing the Federal Government's debt worth RM1.087 trillion was to ensure fiscal accountability, which would go toward’s convincing investors and the capital market.
“This shows that the Federal Government still has the fiscal and financial space.
“To ensure that the debt level is controlled and manageable, various control measures had been implemented, such as review of projects involving high cost, by bringing the cost down and based on the needs.
“For projects which are in the midst of being implemented, the overall cost of the project would be reviewed, to prevent the government from being charged with unnecessary costs.
"Mega projects such as HSR (High-Speed Rail), ECRL (East Coast Rail Link) and MRT (Mass Rapid Transit) are also being reviewed to examine project priorities as well as government's ability to repay," he said.
Lim said this in his reply to a question from William Leong Jee Keen (PH- Selayang) on the government’s plan in managing the federal debt.
