The government has assured that it will maintain a transparent policy regarding government expenditure, said Finance Minister Lim Guan Eng.<\/p>\n
He said despite the negative effects on the stock market due to recent debt revelations, they will continue to keep the nation well-informed of the country\u2019s spending.<\/p>\n
Furthermore, he said such transparency will boost investors\u2019 confidence and that the government will also attend to debt obligations in relation to sovereign fund 1Malaysia Development Berhad (1MDB).<\/p>\n
“The methods of the previous government in not disclosing its expenditure to the people will not happen again. I believe the rakyat deserve to know what happens.<\/p>\n
“Being transparent on the country’s expenditure and economic conditions would, in turn, boost investors’ confidence,” he said.<\/p>\n
He further added that they were committed to resolving the financial issues and still have the funds to repay debts.<\/p>\n
“We will honour our international obligations and this will reassure the market that this government knows what it is doing.<\/p>\n
“The government is market-friendly, and we follow international financial norms,” he said.<\/p>\n
He said the losses on Bursa Malaysia could have been caused by the transparency on the state\u2019s financial position.<\/p>\n
“It is up to the market to determine whether being transparent is the cause, but it is not only in Malaysia that the stock market has fallen,” he said.<\/p>\n
However, he said other developed nations have experienced similar shocks in their stock markets.<\/p>\n