Malaysia's government debt 50.9pc of GDP

Johari said Malaysia's government debt amounted to RM680 billion. ― Picture by Yusof Mat Isa
Johari said Malaysia's government debt amounted to RM680 billion. ― Picture by Yusof Mat Isa

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KUALA LUMPUR, Nov 13 — Malaysia’s government debt accounts for 50.9 per cent of the country’s gross domestic product (GDP), lower than the government's self-imposed 55 per cent limit, Finance Minister II Datuk Seri Johari Abdul Ghani said today.

The amount was RM680 billion, Johari said in his ministerial winding up speech during the 2018 Budget debate.

"Ninety-seven per cent is domestic debt, overseas (debt) is about three per cent," Johari said, when asked by PKR's Gopeng MP Dr Lee Boon Chye to state the breakdown of the debt.

“What we need to interpret is, we see the government’s debt, in the government balance sheet, there is RM620 billion. Then we see the debt outside the balance sheet, which is what we call government-guaranteed. We see ‘hutang di luar’ balance sheet, which is what we call government guaranteed.

“Government-guaranteed today, has hit RM192 billion.

“I want to tell you ladies and gentlemen, this debt, what’s most important, is the ability to pay. If we can pay, regardless of whatever the percentage, you must be able to pay,” Johari added.

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