MALAYSIA’S debt is still around RM1 trillion, said Finance Minister Lim Guan Eng.

He said despite the initial figure of RM1.087 trillion being reduced in the first nine months of Pakatan Harapan rule, the national debt has not decreased substantially.

The government has to take into consideration payments where it acts as guarantor, he said.

“When primary borrowers are not able to repay their debts, such as in the case of 1Malaysia Development Bhd, the government is already paying for them,” Lim told reporters at the Prasarana Malaysia Bhd headquarters in Kuala Lumpur today.

Former prime minister Najib Razak last October said the RM1 trillion figure cited by PH did not conform to global standards as it included two additional elements, namely contingent liabilities and lease payments.

“The PH document yesterday confirms what Barisan Nasional and I have been saying all this while, that the real debt is RM688 billion,” he said a day after the midterm review of the 11th Malaysia Plan was tabled in Parliament. – February 22, 2019.