Malaysia’s national debt has reached RM1.5 trillion (US$350 billion) and immediate action must be taken to address the issue says Prime Minister Anwar Ibrahim who adds the figure includes liabilities and has already exceeded 80 per cent of the GDP.
He says this has a direct impact on the economy and suggests that the country’s budget deficit will widen further than the earlier estimate of 5.8 per cent of the GDP for 2022.
Immediate Action Needed
“The problem with our debt is it has already touched RM1.2 trillion and if liabilities are included, the debt is RM1.5 trillion,” said Mr Anwar at the 2023 Budget Dialogue at the finance ministry. He says the economy is still “considered weak”.
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