PUTRAJAYA will try to cut its national debt of RM1 trillion, some 65% of the nation’s GDP, by aborting or reconsidering some projects, in addition to cutting ministers’ salaries, Prime Minister Dr Mahathir Mohamad said today.

The prime minister had earlier this week blamed abuses by the Najib administration for the ballooning figure.

Dr Mahathir said ministers’ salaries would be cut by 10%, and that the government would decide “very soon” on whether to continue with the Kuala Lumpur-Singapore high-speed rail project.

“This will be managed by the finance minister. No one with lower salaries will be affected in our downsizing process,” he said.

Najib previously said the national debt was below his government’s self-imposed ceiling of 55% of GDP.

But Dr Mahathir has said many of the figures recording the country’s financial position may be false. – May 23, 2018.