Auditor-General: Almost 60% of govt loans used to repay existing debts

KUALA LUMPUR: The Auditor-General has expressed concern that the majority of all new loans taken by the government are being used to repay debts and not for development projects.

Datuk Nik Azman Nik Abdul Majid (pic) said from the RM138.559bil total for new loans, 59.9% or RM82.723bil was used to repay matured debts.