There is no need to raise the national debt ceiling to more than 65 percent of Gross Domestic Product (GDP), said Deputy Finance Minister Datuk Seri Ahmad Maslan.
He said the government had raised the ceiling limit twice from 55 percent to 60 percent of GDP during the COVID-19 pandemic and then to 65 percent until now.
The government’s debt is RM1.5 trillion and this amount is included with contingent liabilities. But if you look at the actual government debt, it is RM1.2 trillion and this amount is approximately 61 percent of the ceiling limit.
We have approved up to 65 percent of the debt ceiling limit from GDP which means there is (approximately) 40 percent more,” said Ahmad.
He said this to reporters after the signing of a memorandum of understanding (MoU) between the Malaysian Small Business Chamber of Commerce (DPUKM) and Uniti Asia Group of Business, here, today (January 26).
