In his latest address to the nation during the 2023 Budget dialogue, Prime Minister Datuk Seri Anwar Ibrahim has revealed that the national debt has now surpassed the RM1.5 trillion mark. As reported by local newspaper The New Straits Times, this amount also includes liabilities borne by the nation and represents a whopping 80% of the country’s Gross Domestic Profit (GDP) figure.
Anwar: National debt exceeds RM1.5 trillion, including liabilities
Anwar, who also currently holds the Finance Minister portfolio, says that the issue needs to be urgently addressed and stresses that Malaysia cannot afford to remain complacent on the matter. This is only further exacerbated by the current global economic outlook in the wake of both the Covid-19 global pandemic and the ongoing Russo-Ukrainian conflict that has yet to show signs of abating.
“The economic uncertainties are still not easing. The economy is still considered dim and this was also contributed externally including the Ukraine-Russia conflict as well as global recovery post-Covid.”