Kuala Lumpur (VNA) – Malaysia’s total debt , including offshore and other borrowings, amounts to 879.6 billion RM (213.7 billion USD), equivalent to 62 percent of the gross domestic product ( GDP ), according to Finance Minister Zafrul Aziz.
Talking to the media on March 22, the minister said that the national debt reached 820.7 billion RM as of late 2020, equal to 58 percent of GDP. The figure is projected to increase to 58.5 percent of GDP in 2021.
The figure was based on the legal definition provided in the COVID-19 financial measures act.
With the offshore and other borrowings included, the federal government debt would total 879.6 billion RM, said Zafrul.
He stated that the government continues to adhere to the limits of each type of debt under the respective governing statute to ensure fiscal discipline. Zafrul said that all these figures have been clarified with, and accepted by international ratings agencies and analysts./.