Fiscal outlook: Public sector debt higher at RM1.23 trillion

The impact of the Covid-19 pandemic and the fallout on the economy saw the government undertaking swift measures to protect lives, support businesses and strengthen the economy.

KUALA LUMPUR: Public sector debt rose to RM1.23 trillion or 85.5% of GDP as at end June 2020, due to higher Federal Government fiscal deficit to finance the Covid-19 pandemic stimulus measures.

The report said the Federal Govt debt at RM854.1bil or 69.4% of total debt, followed by non-financial public corporations (NFPCs) at 24.4% and statutory bodies 6.2%.