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 Finance Minister Zafrul Aziz (Photo: thestar.com.my)Debts of 1MDB, SRC and SSER in general do not directly increase the total debt of the government, said Zafrul Aziz.
But as 1MDB, SRC and SSER are entities that receive government guarantees, the government is exposed to contingent liability risks so long as their debt commitments are yet to be resolved, he added.
The remaining debt commitments of 1MDB involving principal payments and interest on two bonds and one sukuk issuance stand at 32.08 billion RM. The remaining SSER debt commitments involving principal and interest payments amounted to 8.78 billion RM.
SRC's debt commitment had already been completed on March 28, 2022, said the minister./.
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