Malaysia sets up fund for donations to ease national debt
{{#rendered}} {{/rendered}}Malaysia's new Prime Minister Mahathir Mohamad says the government will set up a trust fund to help the public contribute to easing the country's huge national debt.
Mahathir's alliance won a stunning victory in May 9 national polls, ousting scandal-tainted leader Najib Razak and his long-ruling coalition. Mahathir said Wednesday that many Malaysians were willing to donate to the government to help ease its financial burden.
He thanked the people for their "patriotic" stance.
{{#rendered}} {{/rendered}}Mahathir's government says the national debt exceeds 1 trillion ringgit ($250.6 billion), or 80 percent of Malaysia's gross domestic product, after taking into account government guarantees and other payments.
The government has said it will review large-scale infrastructure projects to cut costs. It has reopened a graft probe linked to Najib.