LIM Guan Eng has confirmed that Malaysia’s debt has passed the RM1 trillion mark, as announced by Prime Minister Dr Mahathir Mohamad yesterday.

“Yes, I would like to confirm what Tun (Dr Mahathir) said. The debt is indeed above RM1 trillion,” said the finance minister on his first day of work.

“It will be reviewed during the discovery exercise, when the relevant departments can start consolidating their numbers and accounts.”

Pakatan Harapan chairman Dr Mahathir said in his first turn as prime minister, from 1981 to 2003, the country had a debt of RM300 billion.

On the sales and services tax (SST), Lim said it should be implemented by year end.

“According to the PH manifesto, we will use the old SST rate, which is 10%. If there are changes to be made, we will inform.

“But as per the PH manifesto, the SST rate is 10%.” – May 22, 2018.