Thursday, March 17, 2016
At RM630b, Malaysia’s debt nearly hitting ceiling
“The Federal Government’s latest debt amount for the year ending December 31 2015 is RM630.5 billion, or 54.5 per cent of the GDP.
“Of this amount, 96.6 per cent or RM609.1 billion is domestic debt, while RM21.5 billion or 3.4 per cent is offshore debt,” the ministry said in its written reply to Parliament.
However, the MOF said the debt is still manageable.
“The government is committed to ensure that the Federal Government’s debts do not exceed 55 per cent of the GDP.
“To ensure the Federal Government’s debt limit remains low and managed, fiscal consolidation plans will be continuously executed to reduce the deficit level in phases,” it said.
Posted by wikisabah at 3:45:00 PM