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| Tengku Zafrul Abdul Aziz |
Tengku Zafrul says he was unaware Najib picked as state adviser
Bloomberg
KUALA LUMPUR (Nov 4): Malaysia’s Finance Minister Tengku Zafrul Abdul Aziz said he isn’t aware that Najib Razak has been appointed as an adviser to the government, after a report said the former prime minister was offered a role to consult on the economy.
“I’m not aware that he’s an adviser,” Zafrul said in an interview with Bloomberg Television’s Haidi Lun and Shery Ahn. “At the Ministry of Finance, we are focusing on the revival of the economy and creating employment and driving growth for next year. So the focus is to ensure that we continue with the reopening of the economy safely.”
Najib, who’s appealing a conviction for his role in the 1MDB scandal, was offered a role with ministerial status, as Prime Minister Ismail Sabri Yaakob sought to use Najib’s influence within their ruling United Malays National Organisation (UMNO) party to bolster his slim majority in parliament, The Straits Times had reported in September.
Zafrul also said Malaysia has the monetary and fiscal room to support the recovery, and that the government can fund its planned record budget for 2022 via domestic bond issuances.
Malaysia last week unveiled an RM332.1 billion (US$80 billion) spending plan for 2022 to revive an economy battered by political turmoil and tight virus curbs. It will be largely funded by tax revenue and borrowings, including a one-time windfall tax on high-income companies.
Bank Negara Malaysia kept the benchmark interest rate at a record low on Wednesday (Nov 3), saying risks to the growth outlook “remain tilted to the downside”.
