National debt nearing danger level Bernama
PETALING JAYA: Malaysia’s debt problem, compounded by the 1Malaysia Development Bhd (1MDB) financial scandal, is close to reaching a dangerous level.
The situation has been further aggravated by the economic fallout caused by the Covid-19 pandemic, and drastic measures must be taken to address the problem, according to economists.
Such measures could include cutting back on capital expenditure and raising taxes or introducing new ones, they told
theSun.
According to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz
(pix), Malaysia’s debt now stands at 58% of gross domestic product (GDP), just 2% shy of the 60% debt ceiling.