Proposal to increase statutory debt limit to 65%

Tengku Zafrul said although the statutory debt-to-GDP ratio was currently at about 58%, given the commitment made by the government to support the people and businesses, the debt-to-GDP ratio would probably increase to above 60% by year-end.

PETALING JAYA: Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz will propose to raise the statutory debt limit to 65% from the current 60% of the gross domestic product (GDP).

He said although the statutory debt-to-GDP ratio was currently at about 58%, given the commitment made by the government to support the people and businesses, the debt-to-GDP ratio would probably increase to above 60% by year-end.