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Malaysia’s government debt equal to nearly 64% of GDP: finance minister

Malaysia’s Finance Minister Zafrul Aziz has recently revealed that the country’s government debt amounted to 1.045 trillion RM (234.4 billion USD) or 63.8% of its gross domestic product (GDP), but does not include the contingent liabilities of entities such as 1Malaysia Development Bhd (1MDB), its subsidiaries, SRC International Sdn Bhd and Suria Strategic Energy Resources Sdn Bhd (SSER).
Malaysia’s government debt equal to nearly 64% of GDP: finance minister ảnh 1Malaysia's Finance Minister Zafrul Aziz (Photo: thestar.com.my)
Kuala Lumpur (VNA) - Malaysia’s Finance Minister Zafrul Aziz hasrecently revealed that the country’s government debt amounted to 1.045 trillionRM (234.4 billion USD) or 63.8% of its gross domestic product (GDP), but doesnot include the contingent liabilities of entities such as 1MalaysiaDevelopment Bhd (1MDB), its subsidiaries, SRC International Sdn Bhd and SuriaStrategic Energy Resources Sdn Bhd (SSER).

Debts of 1MDB, SRC and SSER in general do not directly increasethe total debt of the government, said Zafrul Aziz.

But as 1MDB, SRC and SSER are entities that receivegovernment guarantees, the government is exposed to contingent liability risks solong as their debt commitments are yet to be resolved, he added.

The remaining debt commitments of 1MDB involving principalpayments and interest on two bonds and one sukuk issuance stand at 32.08 billionRM. The remaining SSER debt commitments involving principal and interestpayments amounted to 8.78 billion RM.

SRC's debt commitment had already been completed on March28, 2022, said the minister./.
VNA
#Malaysia #Finance Minister Zafrul Aziz #government debt #1MDB #Vietnam #Vietnamplus #Vietnam News Agency Malaysia
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