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Malaysia’s Parliament approves raising govt debt ceiling to 60pc | Malay Mail

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Malaysia’s Parliament approves raising govt debt ceiling to 60pc

The last time Malaysia raised its debt ceiling was in July 2009 during the global financial crisis, when it increased its maximum borrowings by 10 percentage points to 55 per cent of GDP. — Picture by Hari Anggara

Parliament voted to allow the government to borrow up to 60 per cent of gross domestic product as part of temporary measures to mitigate the effects of the pandemic on the public and local businesses. The latest raising of the debt ceiling was part of a temporary bill to enable government financing for economic stimulus packages and recovery plans and related matters.

 

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