Malaysian Finance Minister Lim Guan Eng said on Wednesday that the new government needs three years to fully restore its economy after accumulating debts left by the previous government and infiltrating corruption in government institutions.
In a press statement, Eng said Malaysia's economic indicators are very encouraging under the new The Alliance of Hope (Pakatan Harapan) stressing that the new government, which took office last May, will do its utmost to meet the people's aspiration.
He noted that Bloomberg ranked Malaysia among the top 20 economies in the world, adding that other international financial agencies had maintained Malaysia's credit rating for another year.
"These ratings come despite the financial chaos caused by the corruption cases involving the previous government," he said, adding that three years later Malaysia would recover and then seek high-income countries.
Foreign investments in Malaysia rose by 250 percent to 49 billion Malaysian ringgit (12 billion US dollars) in the first nine months of 2018, while exports rose significantly to 96.4 billion ringgit (23.3 billion US dollars), he said.
Source: Yemen News Agency