Malaysia's debt level could hit 55%, Zafrul says

The country’s debt level could hit the statutory limit of 55 per cent of gross domestic product at the end of the year from 52 per cent currently, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said.

KUALA LUMPUR: The country’s debt level could hit the statutory limit of 55 per cent of gross domestic product at the end of the year from 52 per cent currently following the implementation of measures to save lives, protect livelihoods and stimulate the economy, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said on Tuesday.

The government had announced the RM260 billion Prihatin Rakyat economic stimulus plan (PRIHATIN), followed by the RM35 billion 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 RM45 billion.