Parliament: Country’s Debt at RM1.5 Trillion, RM42 Bln Alone Went Into Servicing Govt Debts In 2022 – PM Anwar

File photo of Prime Minister Dato’ Seri Anwar Ibrahim at the Dewan Rakyat on Dec 19. Photo courtesy of SADIQ ASYRAF/Prime Minister’s Office.
Country’s debts amount to RM1.5 trillion, equivalent to 82 percent of GDP

KUALA LUMPUR, Feb 14 – The country’s debts and liabilities currently stand at RM1.5 trillion, equivalent to 82 percent of the Gross Domestic Product, Prime Minister Datuk Seri Anwar Ibrahim informed the Parliament today.

Providing the details, he said the government’s debts amounted to RM1.079.6 trillion, including its commitment to guarantees amounting to RM205.9 billion, RM18.2 billion on the 1MDB loan and other liabilities totaling to 414.2.2 valued at RM1.445.9 trillion.

He was answering three questions raised by Member Parliament of Taiping, Wong Kah Woh, during the Question and Answer session at the Dewan Rakyat, on the current status of the country’s debts, the factors for its increasing debts annually and the efforts being taken by the government to reduce the rising debts.

Anwar said the Federal Government’s debts had reached 60.4 percent of the GDP, while a total of RM41 billion alone went into servicing the debts in 2022, and another RM46 billion will be used to service the debt this year.