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KUALA LUMPUR – There is currently no need to increase the national statutory debt ceiling to more than 65% of the gross domestic product (GDP), said Deputy Finance Minister, Datuk Seri Ahmad Maslan.
He said the government had already raised the statutory debt limit twice, from 55% to 60% of the GDP during the Covid-19 crisis, and raised it again to 65% last year.
“The government’s debt is currently at RM1.5 trillion, including contingent liability, but the actual debt is at RM1.2 trillion, which is about 61% of the GDP,” he said to reporters after the signing ceremony of a memorandum of understanding between the Malaysian Small Entrepreneurs Chamber of Commerce and Uniti Asia Group of Business here today. – Bernama, January 26, 2023
