Budget 2023: National debt to hit RM1.2 trillion, says Anwar

KUALA LUMPUR: The nation's debt is expected to hit RM1.2 trillion or above 60% of the Gross Domestic Product (GDP), Prime Minister Datuk Seri Anwar Ibrahim told Parliament.

"Taking into account debts and liabilities, we will breach RM1.5 trillion or 81% of the GDP," he said when tabling Budget 2023 for its second reading in the Dewan Rakyat on Friday (Feb 24).

He noted that debt servicing charges will exceed RM46bil or 16% of revenue this year, which is higher than the 15% threshold.

"The RM46bil is only on interest for the debts," he added.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Nation

Johor Ruler marks his birthday with modest celebration after breaking fast
Subsidised diesel misappropriation activity in Sandakan taken down
PLUS to conduct open toll payment system trial run at Penang Bridge, BKE in September
DBKL to take random food samples from Ramadan bazaars
Floods: 439 evacuees seeking shelter at relief centres in Batu Pahat
Two men found guilty for possessing venison from hunted deer at Tabin wildlife reserve
HR Ministry: 800 Indonesian domestic workers entered Malaysia via One Channel System
Two killed, five injured as child escapes unhurt in Senai Desaru Highway crash
State Health Dept orders two eateries to close in Sandakan due to pest infestations
Improved facilities at Kudat’s popular Tip of Borneo when it reopens in April

Others Also Read