MCA Youth’s Saw Yee Fung Questions Anwar on claims of RM20b national debt cut

In a commentary published on June 22, 2025, Saw Yee Fung, a PhD holder in theoretical economics from Peking University, business development actuary, and MCA Youth secretary general, sharply criticizes Malaysian Prime Minister and Finance Minister Anwar Ibrahim for selectively framing data to downplay the escalating national debt crisis and claiming undue credit for fiscal management.

Saw argues that the public deserves transparency amid rising inflation, soaring living costs, and economic hardship, emphasizing the need for concrete, revenue-generating economic policies rather than reliance on tax hikes and subsidy cuts that burden the rakyat.

National debt

Saw highlights Anwar’s claim that new borrowings decreased from RM100 billion in 2022 to RM80 billion in 2024 and the fiscal deficit dropped from 5.5% to a projected 3.8% in 2025. However, she asserts these figures obscure the true debt situation, as Bank Negara Malaysia data shows federal government debt surged from RM1.17 trillion in 2023 to RM1.63 trillion in 2024, remaining high at RM1.25 trillion in Q1 2025. “National debt cannot be assessed by focusing solely on new borrowings,” Saw states, stressing that total debt, debt-to-GDP ratio, refinancing obligations, and interest liabilities are critical factors ignored in the government’s narrative.

She accuses the Madani government of failing to reduce debt or deficits meaningfully over two years, instead expanding the Sales and Services Tax (SST) and cutting subsidies, which shifts the fiscal burden onto citizens. “Balancing the national budget should not come at the expense of ordinary Malaysians,” Saw argues, warning that Anwar’s selective framing risks eroding public trust and amounts to “self-deception” if debt and interest payments continue to rise.

Saw underscores the urgent need for policies to address inflation and living costs, criticizing the government’s lack of substantial revenue-boosting reforms. “What the country truly needs are forward-looking policies that raise incomes, encourage investment, and create employment opportunities,” she asserts, calling for solutions that provide relief and restore public confidence without adding to the public’s financial strain.

The MCA is a component party of the Barisan Nasional coalition which is in power with the Pakatan Harapan of Anwar.

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