Deputy finance minister Lim Hui Ying says the increase was necessary to support key development projects, although the government aims to curb debt and narrow the deficit.
Deputy finance minister Lim Hui Ying said the government remains committed to achieving a fiscal deficit target of below 3% of the GDP , and keeping the debt-to- GDP ratio under 60% in the medium-term. KUALA LUMPUR: Malaysia’s federal debt rose to RM1.3 trillion at the end of June, largely driven by continued fiscal deficit s to fund public development spending, says deputy finance minister Lim Hui Ying . Speaking in the Dewan Rakyat today, Lim said the increase from RM1.
Lim also outlined several control measures to curb debt growth, including broadening revenue base, rationalising subsidies, and enforcing strict guidelines for government guarantees and public-private partnerships. She said future borrowings would also be limited to high-impact development projects, while government guarantees would be capped at 25% of the GDP under the Public Finance and Fiscal Responsibility Act.
Federal Debt Fiscal Deficit GDP Government Spending Infrastructure Lim Hui Ying Procurement Bill Public Finance Act
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