Budget 2023: National debt to hit RM1.2 trillion, says Anwar

KUALA LUMPUR: The nation's debt is expected to hit RM1.2 trillion or above 60% of the Gross Domestic Product (GDP), Prime Minister Datuk Seri Anwar Ibrahim told Parliament.

"Taking into account debts and liabilities, we will breach RM1.5 trillion or 81% of the GDP," he said when tabling Budget 2023 for its second reading in the Dewan Rakyat on Friday (Feb 24).

He noted that debt servicing charges will exceed RM46bil or 16% of revenue this year, which is higher than the 15% threshold.

"The RM46bil is only on interest for the debts," he added.