World

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
Follow VietnamPlus

Related News

Malaysia: Low-income households hard hit by inflation

Malaysia: Low-income households hard hit by inflation

Malaysia's economy is on a recovery path, but ongoing inflation is inflicting hardship on certain segments, including low-income households who have been disproportionately affected by rising price pressures, said Bank Negara Malaysia (BNM).
Malaysia’s exports reach record high in 2021

Malaysia’s exports reach record high in 2021

Malaysia’s foreign trade rose nearly 25% in 2021 to hit the 2 trillion RM (nearly 450 billion USD) mark for the first time after recording negative growth for two consecutive years, said the Department of Statistics Malaysia (DoSM).

See more

Malaysia bans single-use plastic bags at public sites (Photo: Bernama)

Malaysia bans single-use plastic bags at public sites

Malaysia will ban the use of single-use plastic bags in forest reserves, national and state parks, marine parks, and geological heritage sites and geosites, as part of efforts to curb environmental pollution.

Minister Datuk Fahmi Fadzil (Photo: The Edge)

Malaysia develops space technology

Malaysia is ramping up efforts to develop its space technology, with a particular emphasis on the deployment of Low Earth Orbit (LEO) satellites.

People visit the exhibition. (Photo: VNA)

Indonesia honours Islamic civilisation

The exhibition aims to demonstrate the values of Islam as expressed through art and culture in Indonesia and narrates the historical journey of Islam in the archipelago.

Malaysian Digital Minister Gobind Singh Deo. (Photo: Bernama)

Malaysia committed to drive digital economy framework

Malaysian Prime Minister Anwar Ibrahim will work with ASEAN regional leaders to implement the agreement as soon as possible to have an economic impact, not only on Malaysia, but also on the region in the near future.

Malaysian Prime Minister Anwar Ibrahim (L) and Thai counterpart Paetongtarn Shinawatra (Photo: Bernama)

Malaysia, Thailand commit to closer ties

According to the Malaysian Ministry of Foreign Affairs, Thailand ranked as Malaysia’s seventh largest trade partner globally and third within ASEAN last year, with a total trade volume reaching 25.03 billion USD.

Participants in the "Amazing Thai to the World" project, initiated by Thacca, focus on enhancing the culinary skills of village cooks across Thailand. (Photo: Bangkok Post)

Drive to promote Thai soft power heats up

A significant upskilling and reskilling initiative is needed for Thais, aimed at creating "soft power warriors" for the nation, with a target of 20 million trained individuals by 2027.

Chinese tourists entering Vietnam through Huu Nghi International Border Gate, Lang Son. (Photo: VNA)

Culture, tourism give wings to China-Vietnam relations: expert

In her article posted on the Global Times of China, Liu Xiangyan, associate researcher of the Institute of International Studies at the China Tourism Academy, wrote that with the improvement of transportation networks and enhanced regional cooperation, the two countries have become each other's major markets of tourist sources.

Vietnamese Party General Secretary To Lam (R) receives Party General Secretary and President of China Xi Jinping (Photo: VNA)

Top Chinese leader’s state visit to Vietnam a great success: Chinese foreign ministry

Vietnam and China agreed to continue promoting the bilateral friendship, supporting each other in pursuing the socialist path that suits the conditions of each country, enhancing strategic trust to a new level, building a more substantial security cooperation pillar, and utilising opportunities to develop China's new high-quality productive forces and Vietnam's new productive forces to strengthen a broader, more comprehensive cooperative model.