Malaysia plans to lift government debt ceiling to 65% of GDP

KUALA LUMPUR: Malaysia's cabinet has proposed raising the government's statutory debt ceiling to 65% of gross domestic product, as part of measures to deal with the economic fallout of the COVID-19 pandemic, the finance minister said on Tuesday.

This is the second time in as many years that the government has sought to raise its debt ceiling. In 2020, it was raised to 60%, the first increase since July, 2009.