National debt in 2010 at RM407b, says government audit

By Shannon Teoh

October 24, 2011

KUALA LUMPUR, Oct 24 — Malaysia’s national debt rose by 12.3 per cent to over RM407 billion last year, according to the Auditor-General’s report released today.

Although the economy grew by 7.2 per cent in 2010, last year’s fiscal deficit maintained public debt at over 50 per cent of GDP for the second year running.

The Auditor-General said in the report that the government owed 53.1 per cent of GDP, slightly down from 53.7 per cent last year.

“The ratio of the federal government debt to GDP at the end of 2010 is 53.1 per cent, over 50 per cent for the second year running,” Tan Sri Ambrin Buang (picture) wrote.

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