Former prime minister Dr Mahathir Mohamad was the country's saviour when Malaysia was going through the 1997-1998 economic crisis, said caretaker Second Finance Minister Ahmad Husni Hanadzlah today.

He said PKR de facto leader Anwar Ibrahim, who often claimed of having successfully saved Malaysia's economy and reduced its debt when he was the finance minister then, was only taking credit for Dr Mahathir's good work and wisdom.

Ahmad Husni said Anwar's economic strengthening formula failed to take Malaysia out of the Asian financial crisis at the time until Dr Mahathir intervened and introduced several initiatives to save the country's economy.

"We were very lucky that Dr Mahathir intervened. Within three months, we found ways to revive the economy. Dr Mahathir together with former finance minister Daim Zainuddin sat everyday at the National Economic Advisory Council meeting to get views from various sectors.

"As a result, we got out of the crisis with a new economic model.

"It was Dr Mahathir who rebuilt the economy and Malaysia's financial position remains healthy today," he said after officially opening the Perpustakaan Dato’ Seri Husni costing RM760,000 in Chemor, near Ipoh.

Ahmad Husni said now under the leadership of caretaker Prime Minister Najib Abdul Razak, Malaysia recorded an economic growth rate of 5.2 per cent.

Meanwhile, he said four states - Penang, Kedah, Kelantan and Selangor - under Pakatan Rakyat, failed to show encouraging economic performance since 2008.

"They don't have new initiatives or new policies. There have been no economic transformation plans (in these states) and they just asked the federal government for financial assistance," he said.

On Anwar in his series of ceramah claiming that the national debt had risen to RM456 billion compared to RM97 billion in 1992 and RM89 billion in 1997, Ahmad Husni said it was just the opposition's tactic to create public hatred towards the government.

He said Malaysia's debt was as 53 per cent of its Gross Domestic Product compared to 237.9 per cent for Japan, 106.5 per cent for the United States, 111 per cent for Singapore and 82 per cent for Germany.

- Bernama