The former premier says unfamiliar investments have been right away entrance from a East as well as Malaysia's traffic with these countries have been increasing.
PUTRAJAYA: The comparative measure of debt to gross domestic product (GDP), that stands during 53 per cent currntly, is still considered "healthy" for a country as trading as well as income continue to rise, says former budding apportion Dr Mahathir Mohamad. "We can still compensate a debts. We still can compensate as you see investments yielding tall profit. During my administration, a RM300 million distinction done by Maybank is already considered as large.
"Now, Maybank has gained RM6 billion," he told Bernama in an interview.
Mahathir pronounced Malaysians should remember that a single of a European countries, Greece, could not compensate a debts as a comparative measure had exceeded 100 percent.
"Greece may not be able to pay," he said.
Mahathir pronounced Bank Negara Malaysia's current assets was about US$ 140 billion as compared to only about US$ thirty billion during a time of his administration. (US$ 1=RM3.08).
As during January 31, 2013, Bank Negara's general pot totalled US$ 140.2 billion.
He pronounced a pot position was sufficient to financial 9.5 months of retained imports as well as was 4.2 times a short-term outmost debt.
The executive bank's sum assets, together with general reserves, stood during US$ 158 billion.
Malaysia additionally has large deposits in institutions such as a Tabung Haji, Permodalan Nasional Bhd as well as Felda Scheme, he said.
"We've competent savi! ngs, tal l enough," pronounced Mahathir, who was additionally Malaysia's former financial minister.
Asked either Malaysia's traffic was still dependent upon horse opera countries notwithstanding their sluggish economy, he said: "We're no longer dependent upon a West.
"Our exports to a West have not increased as well as a West additionally cannot means to deposit now."
He pronounced unfamiliar investments have been right away entrance from a East as well as Malaysia's traffic with these countries have been increasing.
"Our traffic with China, for example, is good as well as it's very high. Our traffic with Asean member countries has additionally increased. So, you don't have to consider a mercantile progress formed upon a traffic with a West," he said.
Instead, a comment should take in to account a mercantile progress Malaysia done around a world, he said.
"Our exports to throughout a universe have been still upon a uptrend, a over-abundance is still growing," he said.
Malaysia's sum traffic posted a three percent enlargement final year notwithstanding tellurian mercantile as well as financial turmoil as well as temperate demand.
"Eventhough enlargement was next approaching projection, Malaysia purebred a highest sum traffic of RM1.31 trillion final year vis-a-vis RM1.27 trillion in in 2011.
In 2012, exports grew by 0.6 percent to RM702.19 billion, whilst imports stretched by 5.9 percent to RM607.36 billion.
The traffic over-abundance in 2012 was RM94.82 billion, a 15th uninterrupted year of traffic over-abundance for Malaysia.
Among a tip five trading partners, traffic enlargement was recorded with Asean (+8.2 percent) as well as China (+8.0 percent), whilst traffic with a United States dwindled by 2.8 percent.
Bernama
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