Budget 2023 to take into account nearly RM1.5 tril govt debt: Anwar

KUALA LUMPUR – Budget 2023 will consider how the government’s debts and liabilities last year nearly exceeded RM1.5 trillion, or more than 80% of the nation’s gross domestic product (GDP).

In a statement today, the Prime Minister’s Office said that the government’s debt service ratio is expected to exceed 15% of its profits, while global economic growth is also projected to decline this year.

“Budget 2023 will reflect the unity government’s responsibility towards prioritising growth, equitable distribution, and social justice.

“The government will maintain an expansionary fiscal policy to support economic growth (while) implementing in phases measures to reduce deficits and ensuring that the ratio of the nation’s debt and liabilities compared to our GDP is under control.” – The Vibes, February 3, 2023

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