八点最热报 | 尽管大马国家债务高企引发关注，但值得注意的是，有许多国家的负债率都远高于大马，包括发达外债比率达260%的日本，居全球之冠，邻国新加坡负债率也高达174%，国债突破885,000美元，全球排名第4，而我们是排行第64。是什么原因让新加坡在高负债的情况下依然保持经济强劲？而我国的债务却叫人担心？（主播：梁宝仪）
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00:05In yesterday's special report, we mentioned that the national debt of Malaysia rose to 1.5 trillion RMB,
00:10and the national debt accounted for 65% of the total value of domestic production.
00:15Many people are worried that if the national debt problem continues to worsen,
00:18will Malaysia step on the back foot of Sri Lanka and fall into bankruptcy due to the high debt?
00:25Although the rise in national debt has attracted attention,
00:28it is worth noting that the debt ratio of many countries is much higher than that of Malaysia.
00:33In Japan, the debt ratio of developed countries is up to 260%, which is the world's highest.
00:40In Singapore, which is only a drop away from our country, the debt ratio is up to 174%,
00:47and the national debt has broken through 8,850 billion US dollars, which is the world's highest.
00:52Singapore is ranked fourth in the world, while Malaysia is ranked 64th in the world.
00:57What is the reason that Singapore does not feel uncomfortable under high debt,
01:02and the economy is still in a strong trend, while our country's debt is worrying?
01:09Zhang Yonglong, Director of Taxation and Financial Consultation at the Asia-Pacific Financial Center,
01:13and Zhang Yonglong, Director of the Department of Economics at the University of Nottingham,
01:16said during a visit to the 8 o'clock Global Times that
01:18the economic situation of a country must not be measured solely by the debt ratio,
01:24but must also consider other factors.
01:26For example, the country's ability to pay off debts, etc.
01:30If we want to solve the problem of rising national debt,
01:33our country may be able to learn financial experience from Singapore, which is only a drop away.
01:38According to the CEC database,
01:40as of March this year, Singapore's debt ratio has risen to an amazing 174%,
01:46which is more than 65% in Malaysia.
01:49Despite this, Singapore has always maintained budgetary surplus and substantial national reserves.
01:55The reason is that every Singaporean debt has a clear purpose,
02:00and is excellent in terms of financial investment,
02:03thereby ensuring the strong stability of Singapore's currency.
02:07Compared with other middle-income countries,
02:09Malaysia's debt ratio is relatively high.
02:12Will it eventually fall behind Sri Lanka?
02:16Zhang Yonglong said,
02:17our current economic situation is still within a controllable range,
02:21and cannot be compared with Sri Lanka's severe debt crisis.
02:25Zhang Yonglong pointed out that most of Sri Lanka's foreign debt
02:29is extremely sensitive to the fluctuation of the international currency market.
02:32Once there is a storm in the international situation,
02:34it will easily shake the economic fundamentals of the entire country.
02:38For example, the U.S. Fed has repeatedly increased interest rates,
02:40which has led to a sharp rise in U.S. dollars,
02:42and a significant increase in debt repayment costs,
02:44which eventually led to a serious financial crisis.
02:48But the situation in Malaysia is exactly the opposite.
02:50More than 97% of our country's debt structure is based on foreign currency,
02:56so the impact of the currency fluctuation is relatively small.
03:02One of the differences between Malaysia and Sri Lanka is that
03:05most of Sri Lanka's foreign debt is based on foreign currency,
03:07and it is also held by foreigners.
03:09But the situation in our country is exactly the opposite.
03:1197% of our country's national debt is based on foreign currency,
03:14so the depreciation of foreign currency
03:16has a relatively low impact on our national debt.
03:19In addition, only about one-third of our country's national debt
03:22is held by foreigners.
03:24This also means that our country does not have to worry about
03:27foreign investors suddenly selling off
03:30our national debt to the government.
03:32There is no way to fill that hole.
03:34Speaking of high national debt is a concern.
03:36Many of us have always been envious of
03:38many workers who want to cross the long low
03:40to make new money in Singapore,
03:43its foreign debt is rising.
03:45But those who are a little concerned about international financial news know
03:48that Singapore is ranked fourth in the world,
03:50much higher than Malaysia.
03:52Why is no one worried that Singapore's economy is in danger?
03:55As long as the investment and direction are correct,
04:00there is no need to worry about the high national debt.
04:04The long-term benefits are enough to pay off the debt.
04:07So Singapore is not at the brink of bankruptcy,
04:10but is getting stronger.
04:12Investors all over the world are optimistic about Singapore's future.
04:15Many people don't know that Singapore's national debt to GDP
04:19is 174% higher than Malaysia.
04:22Does this mean that Singapore's economy is in dire straits?
04:25In fact, it is not.
04:26Singapore is a very wealthy country.
04:30They don't borrow money to spend,
04:32they borrow money to invest.
04:34So their annual return on investment
04:39basically contributes 20% of their national income.
04:45What is the purpose of borrowing money?
04:48If you borrow money to spend,
04:51of course you can't.
04:53Just like in Malaysia,
04:54we used to borrow money to pay for development expenses.
04:59Of course there is no problem.
05:01The problem is that
05:03during the development expenses,
05:06there is a lot of corruption.
05:09Singapore's example shows that
05:11it depends on whether a country's economy is stable.
05:14It can't be measured by the proportion of debt and the number of debts.
05:18Although Malaysia's national debt is still under control,
05:21respondents pointed out that
05:22our country must be vigilant about budget deficit
05:25and increase the power of debt.
05:27Otherwise, the rise of national debt
05:29will not only cause market panic and foreign investment withdrawal,
05:32but also cause currency depreciation and impact on the domestic economy.
05:35The government must also bear huge financial pressures
05:38to distribute resources in other key areas.
05:41Of course, if the national debt continues to rise
05:43and the proportion of GDP is increasing,
05:45this is definitely not a good thing for the economy.
05:48Foreign investors are worried that
05:50the government will not be able to repay the national debt.
05:52They are also worried that financial crisis will occur in our country.
05:55So they are more unlikely to invest in Malaysia.
05:58In fact, when each country borrows money,
06:01it is usually through a 5-year or 10-year loan
06:06to pay off debts to the public.
06:08At present, we are still paying interest.
06:13And our interest is very high.
06:15The interest is 16% of our country's income.
06:19That is to say, every time we collect RM1,
06:2116 cents is used to pay interest.
06:23Of course, if a country's national debt rises,
06:26foreign investors will lose confidence.
06:30Because when the policy is unstable,
06:32the policy is not clear.
06:34The policy is not clear, which is what foreign investors are most worried about.
06:38If the national debt is to be reduced,
06:40Zhang Yonglong pointed out that
06:41the government's top priority now
06:43is to achieve as much balance as possible
06:45to ensure that public money is spent on the knife,
06:48and to increase economic sources by reducing interest rates.
06:51Cai Zhaoren pointed out that
06:53because the government has no strict financial discipline,
06:55it has led to a loss of 5% of the income.
06:58Cai Zhaoren pointed out that
06:59the fiscal responsibility bill passed last year
07:02will strictly control the government's debt collection.
07:05In addition to the reasonableness today,
07:07the government must try to achieve
07:10the effect of spending on a lot of expenses.
07:15Don't waste public money on ineffective plans.
07:18In terms of civil servants,
07:20we must also control the expenditure on civil servants.
07:23In fact, the government has also made some reforms,
07:26which will also help our country's financial situation.
07:31Last year, the Chinese government also passed
07:34the fiscal responsibility bill in parliament.
07:37The fiscal responsibility bill
07:39is mainly to set a few red lines.
07:42The national debt cannot exceed 60% of our GDP.
07:47Our fiscal deficit cannot exceed 3% of our GDP.
07:53The Minister of Finance cannot raise the debt at will.
07:56When the government wants to raise the debt
07:59to exceed these red lines,
08:01it must get the approval of the cabinet and parliament.
08:10Although the Chinese government is currently facing debt risks,
08:12but Prime Minister An Hua once revealed that
08:14as of March this year,
08:16the Chinese government has successfully attracted
08:187.61 billion yuan in foreign investment.
08:21It is also a strong proof of the country's financial situation.
08:26Both witnesses said that
08:28the results of this project are mainly due to
08:30the government's active investigation
08:32and promotion of comprehensive economic reforms,
08:35including the digital transformation,
08:36the national energy transition route map,
08:38and the new industrial blueprint in 2030.
08:41At the same time,
08:42the results brought by the opening of the trade door
08:44and the active recruitment of private investors
08:47show that the investors
08:49have seen the competitive advantage of Malaysia.
08:51But they also reminded that
08:53if you want to turn debt into good debt
08:55that can bring economic benefits,
08:57you must manage debt properly
08:59and improve competitiveness
09:01in order to turn crisis into opportunity
09:03and achieve economic growth.