Malaysia’s debt reaches RM630.5bil


The Ringgit is spreading thinner after breaching the RM4.00 mark against the US dollar the lowest level since September 1998. MUHAMAD SHAHRIL ROSLI/SThe Star. (Stand Alone)

KUALA LUMPUR: The Federal Government’s debt has reached RM630.5bil, representing 54.4% of gross domestic product (GDP), as at December 2015, the Finance Ministry (MoF) said. 

Of this amount, 96.6% or RM609.1bil was domestic debt, while the rest was offshore debt, the MoF said in a written reply to the Dewan Rakyat on Thursday. 

“The Government is committed to ensure that the Federal Government’s debt does not exceed 55% of GDP. 

“Fiscal consolidation plans will be continuously carried out to reduce the deficit level in phases,” it said. 

According to the MoF, as at the end of last year, the Government provided guarantees for RM177.7bil loans or 15.4% of GDP, mainly to public entities to implement infrastructure and transport projects. 

The Federal Government, from time to time, gives loan guarantees to statutory bodies and government corporations to borrow funds for development projects for the benefit of the people, the MoF said. 

In addition, the Government issued two letters of support until the end of 2015; one for US$3bil (RM12.4bil) and another for US$150mil (RM620.12mil). 

“The loan repayment performance is good and on time without any arrears,” it added. - Bernama


Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Globetronics shares rally in early trade after Taiwan deal
Nissan to cut or transfer about 1,000 jobs in Thailand, sources say
Singapore Q3 GDP up 5.4% y-o-y, higher than advance estimate; 2024 forecast upgraded
Ringgit extends uptrend against greenback in early trade
FBM KLCI rebounds as Wall Street returns to a rally
Trading ideas: PetDag, Atlan, Thong Guan, Maxim, Globetronics, 7-Eleven, Petron, DRB-Hicom, Dayang, MSM, Aeon, SunCon, UEM Sunrise
Oil rises 2% as Russia-Ukraine war escalates
Wall St ends higher as Dow, S&P hit one-week tops
7-Eleven’s quarterly revenue climbs
SimeProp seeks quality assets for recurring income

Others Also Read