Malaysia Is Borrowing To Pay Borrowings

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And that is why we should instead abolish politicians, because politicians are turning Malaysians into idiots by making them believe you can get everything without having to pay a penny. There is a simple rule in life: there is no such thing as a free lunch.NO HOLDS BARREDRaja Petra KamarudinThe UK’s national debt is RM15 trillion, equivalent to 106% of GDP. Malaysia’s national debt is RM2.5 trillion, equivalent to 54% of GDP.Half of Malaysia’s borrowings is to service borrowings. That’s like paying your credit card hutang using your credit card. What happens is, your debts increase, and you pay more interest.This is what the PAC report says (see more below):PAC took note that RM98.058 billion or 50.4 per cent of the total RM194.555 billion of new government borrowings was used just for the purpose of paying the principal debt for 2020.PAC also noted that close to a fourth of …