“(But) I have mentioned several times that between 97% and 98% of our debt is domestic debt, and this is important as it means that our exposure to foreign currency fluctuation risks is very limited, ” Tengku Zafrul (file pic) said.
KUALA LUMPUR: The country’s debt level could hit the statutory limit of 55% of gross domestic product at the end of the year from 52% currently following the implementation of measures to save lives, protect livelihoods and stimulate the economy, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said.
The government had announced the RM260bil Prihatin Rakyat economic stimulus plan (Prihatin), followed by the RM35bil short-term economic recovery plan (Penjana) aimed at stimulating the country’s economy that has been hit by the Covid-19 pandemic, bringing the government’s direct fiscal injection to RM45bil.
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