After Prime Minister Datuk Seri Anwar announced that our national debt exceeded RM1.5 Trillion, Economic Affairs Minister Rafizi proposed three major solutions to solve the national debt.
Rafizi's three main solutions include solving the mistakes of the national procurement system, expanding the national tax revenue, and improving our services and high value to increase people's income.
Rafizi Suggest To Adopt Several Strategies
According to the Metropolitan Daily News, Rafizi said the government can adopt several strategies to address the national debt, such as adopting short-term programs that allow the government to get the most value out of its spending.
Rafizi said the government can save money by stopping mistakes in the procurement system to ensure maximum delivery and cost efficiency of each government project. Anwar also mentioned that our country can save RM10 billion from the loopholes in the government procurement system and reallocate the country's spending to strengthen our fiscal position.
Rafizi also mentioned the country needs to expand the national tax revenue, but because the impact is too wide, it will need some time to see the results.
He also said that the government needs to immediately restructure and upgrade the national economic policy to improve our services and increase the value of companies. When the people's income increases, it can also contribute to the national income.
Rafizi hopes the people can understand because the current financial situation will take some time to strengthen.
