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Finance minister: Govt plans to raise statutory debt limit to 60pc of GDP | Malay Mail

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Finance minister: Govt plans to raise statutory debt limit to 60pc of GDP

Thursday, 06 Aug 2020 10:02 PM MYT

Finance Minister Tengku Datuk Seri Tengku Zafrul Abdul Aziz said the ministry today tabled for first reading the Temporary Measures For Government Financing Bill 2020 which aimed at revising the self-imposed debt ceiling, among others. The government would focus on preserving fiscal discipline, as it was committed to reducing the fiscal deficit level to below four per cent in the medium term, he said.

The country's financial ecosystem was highly resilient, Tengku Zafrul said, noting that its banking institutions had capital buffers of RM121 billion now ― three times larger than during the 2009 crisis.

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