Najib slams ‘fake news’ for threatening Malaysia’s progress

KUALA LUMPUR — Malaysian Prime Minister Najib Razak yesterday said the country’s economic transformation plan is working but “fake news” is jeopardising its progress.

“They (the opposition) create false propaganda — like the idea that this is a state on the verge of bankruptcy — some of which sadly gain traction internationally,” Mr Najib said in his keynote address at the Global Transformation Forum yesterday.

Taking aim at his opponents including former prime minister Mahathir Mohamad for running down Malaysia, Mr Najib described it as an act of economic sabotage.

He added that the investment received from a Saudi Arabian oil company was a major testament against claims that Malaysia was on the verge of bankruptcy.

In February, Saudi Arabia’s state oil company Saudi Aramco agreed to invest US$7 billion (S$9.8 billion) in an oil refinery and petrochemical project in Malaysia’s southern state of Johor.

“Would Saudi Aramco be making one of its largest investments in a country that was going bankrupt?” Mr Najib said, adding that such ‘‘fake news’’ had almost wrecked the deal between Saudi Aramco and Malaysia’s oil and gas firm Petronas.

Taking a jibe at a ‘‘former leader’’, the Prime Minister said “many would not expect a former leader to tell lies about his own country”.

“So when he tells people that Malaysia is facing bankruptcy, some believe him. In fact, he knows he is telling lies,” Mr Najib said.

The Prime Minister said the belittling of Malaysia could affect perceptions abroad and it would cause ordinary Malaysians, and not politicians, to suffer.

Mr Najib said in fact, millions of jobs were created and Malaysia saw a strong and consistent growth with low inflation and unemployment rate.

“The fiscal deficit cut from 6.7 per cent in 2009 to 3.1 per cent in 2016. Twice the degree of social mobility than in France, Britain or the United States,” he added.

The Prime Minister’s defence of Malaysia’s economy comes as the US authorities are reportedly planning to file criminal charges against Malaysian financier Jho Low in a moneylaundering investigation surrounding the state investment firm, 1Malaysia Development Berhad (1MDB).

Mr Najib also said the country’s economy would grow slightly faster this year than the 4.2 per cent gross domestic product (GDP) growth seen in 2016, rising further in 2018.

Countless measures, he said, had been put in place to ensure continued transformation into an innovative, knowledge-based economy, with sustainability and inclusivity at its core.

“We are working for a nation at ease with others and proud of its unique and vibrant diversity — because I am not just concerned about the GDP or headline figures, but also public happiness and the well-being of each and every household,” he stated. AGENCIES