KUALA LUMPUR, May 30 (AP): Malaysia's new Prime Minister Mahathir Mohamad says the government will set up a trust fund to help the public contribute to easing the country's huge national debt.
Mahathir's alliance won a stunning victory in May 9 national polls, ousting scandal-tainted leader Najib Razak and his long-ruling coalition. Mahathir said Wednesday that many Malaysians were willing to donate to the government to help ease its financial burden.
He thanked the people for their "patriotic" stance.
Mahathir's government says the national debt exceeds one trillion ringgit ($250.6 billion), or 80 per cent of Malaysia's gross domestic product, after taking into account government guarantees and other payments.
Malaysia to take public donations to ease nat'l debt
FE Team | Published: May 30, 2018 21:36:50
Malaysia to take public donations to ease nat'l debt
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