@VellPaari : @TonyPua is no financial expert on Malaysia's economy #Negaraku #TN50 #ExpoNegaraku

1. I refer to a recent article published in The Times of India where International rating agency Moody's has upgraded India's local and foreign currency issuer ratings and changed the outlook on the rating to stable from positive.

Source : https://timesofindia.indiatimes.com/business/india-business/moodys-upgrades-indias-rating-citing-government-reforms/articleshow/61681086.cms

2. It is important to note that Moody's upgrade of India's rating was due to government reforms such as the implementation of programmes which include the introduction of Goods and Services Tax (GST) and direct benefit transfer schemes.

3. This is also similar to programs introduced by the Barisan Nasional government under the able leadership of Yang Amat Berhormat (YAB) Datuk Seri Haji Najib Bin Tun Abdul Razak.  The BN government had also introduced GST and provided direct assistance to Malaysians via programs like BR1M.

4. This effort taken by our BN Government to manage the economy, similar to what has been done in India, was well received by the rating agencies. Therefore the misleading statements that Tony Pua is spewing about GST and its negative impact to the Malaysian economy is all a load of rubbish.

5. To quote Moody's on the reform agenda such as introducing GST and direct assistance scheme:

_Moody's believes that those (reforms) implemented to date will advance the government's objective of improving the business climate, enhancing productivity, stimulating foreign and domestic investment, and ultimately fostering strong and sustainable growth_

6. People like Tony Pua must realise that the Malaysian public are well educated and an informed lot. The time when the rakyat believed what ever that is being said by the opposition leaders are over. The rakyat are now very well aware that what is said by the opposition leaders are mostly misleading and is done with bad intention to sabotage the country's economy.

7. It has been proven that the Malaysian economy under YAB Prime Minister is expanding at a very fast pace as reported by Bloomberg previously. Our growth was at an impressive rate of 6.2% last quarter. Surpassing even our Bank Negara’s targets. If we were to believe the opposition, Malaysia was supposed to be bankrupt a few months back.

Thank You.

*Press Statement*

*Datuk Seri S. Vell Paari*

*Treasurer General*

*Malaysian Indian Congress (MIC)*