The Malaysian federal government’s external debt at the end of last year stood at 582.8 billion RM (215 billion USD) or 54.5 percent of Gross Domestic Product (GDP), according to the Malaysian Ministry of Finance’s report.
The federal government’s debt position remains manageable as the government committed to ensuring its debts did not exceed 55 percent of the GDP, said Malaysian Prime Minister and Finance Minister Najib Razak.
A corner of Kuala Lumpur. Photo: alumnibocconi.it
He said to ensure the federal government’s debt remains low and manageable, fiscal consolidation measures would continue to be taken to lower the deficit in stages, thus reducing the need for the government to borrow.
Strict adherence to fiscal discipline and good debt management should be given emphasis to ensure a strong fiscal position and macroeconomy as well as to withstand any crisis, he added.
Last year, external debt of Malaysia (including that of two eastern states of Sabah and Sarawak) stood at 744.7 billion RM (275 billion USD) or nearly 70 percent of GDP.
Source: VNA
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