Malaysia Will Rely on Local Borrowings to Finance Record $78 Billion Budget

WATCH: Finance Minister Tengku Zafrul Abdul Aziz says Malaysia will rely on local borrowings to finance next year’s record $78 billion spending plan .(Source: Bloomberg)

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By Anisah Shukry, Yantoultra Ngui, and Sophie Kamaruddin

November 10, 2020 at 10:40 PM UTC

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Malaysia will rely on local borrowings to finance next year’s record 322.5 billion ringgit ($78 billion) spending plan, Finance Minister Tengku Zafrul Abdul Aziz said.

“There is no plan to issue bonds that tap the international market,” he said in an interview with Bloomberg TV. “There’s ample liquidity domestically.”