KUALA LUMPUR, Oct 25 ― The international subscription to Putrajaya-issued sukuk or Islamic bonds shows a global confidence in Malaysia’s economy, Prime Minister Datuk Seri Najib Razak said today.
“We did this so that it gives a signal whether they have confidence in the Malaysian economy,” Najib told the Dewan Rakyat during the Minister's Question Time.
He was responding to Kota Tinggi MP Datuk Noor Ehsanuddin Mohd Harun Narrashid who had asked about the ratio of the national debt to the Gross Domestic Product (GDP).
Najib said that the debt, as of June 2016, stands at 655.7 billion or 53.5 per cent of the GDP.
He said that 95 per cent of the debt are still domestic with the balance being foreign debts.
“A large majority of these foreign debts are due to sukuk bonds published by the government which is subscribed by the international community,” he added.
