Malaysia raises debt limit to fund RM45 billion extra spending for Covid-19

Chan Kok Leong Raevathi Supramaniam

Finance Minister Tengku Zafrul Aziz says the measure to raise the debt ceiling is a temporary one and the limit will be revised down to 60% when the bill expires on December 31, 2022. – The Malaysian Insight pic, October 11, 2021.

DEWAN Rakyat has approved the government’s plan to raise its debt ceiling for the second time in as many years.

At 5.30pm, the 220-member Dewan Rakyat passed the bill to allow the government to borrow up to 65% of the gross domestic product (GDP) as part of the temporary measures legislation to mitigate the effects of the Covid-19 epidemic.

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