Auditor-General's Report: Government debt up from 2013

KUALA LUMPUR: The Government’s debt increased by RM42.97bil last year compared to 2013, according to the Auditor General’s report (third series 2014).

It now stands at 54.47% of the gross domestic product.

The internal debt amounted to RM566.052bil (97.1%) while foreign debt totalled RM16.776bil (2.9%), the report said.

Generally, public debt increased to RM582.828bil at the end of 2014 compared to RM539.858bil at the end of 2013.

In  2014, the government repaid various loans worth RM66.495bil.

This is lower than the RM73.664bil repaid in 2013, and  about 99% of the amount was to repay internal debts.

Public debts comprised internal loans amounting to RM566.052bil and foreign debts worth RM16.776bil.

Expenditure due to national debt (cost to obtain loans and interests) also showed an increase over the last five years.

In 2013, expenditure due to national debts amounted to RM20.776bil and increased by RM1.812bil to RM22.588bil last year.

The Government’s debt increased from RM15.62bil in 2010 to RM17.716bil in 2011 and RM19.537bil in 2012.