Tengku Zafrul to moot upping statutory debt limit to 65%

[superadmin]

KUALA LUMPUR – Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz will propose to the cabinet that the statutory debt limit be raised to 65% from the current 60% of gross domestic product.

Although the statutory debt-to-GDP ratio is currently at 58%, he said, given the commitment made by the government to support the people and businesses, the ratio will probably increase to above 60% by year-end.

“Today, we are still below 60%, (which is) about 58% of our statutory debt limit, and even if we breach it, it will be marginal, but then again, we still have to go to Parliament to increase the limit.

“The plan is to present (the proposal) to the cabinet next week. Then, we will bring it to Parliament at the right time,” he told a press conference here today.


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