Malaysia Set to Raise Debt-to-GDP Limit to Support Economy
- Higher debt limit to allow extra borrowing: finance minister
- Malaysia to boost Covid-19 fund to 110 billion ringgit
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After clearing a key vote in parliament, Malaysia is set to raise the limit on government debt for the second time in a little over a year as it seeks to fund additional pandemic support measures and bolster its economic recovery.
A majority of lawmakers in the lower house voted for increasing the statutory debt ceiling to 65% of gross domestic product until end-2022, from 60%. The bill will next head to the senate, controlled by Prime Minister Ismail Sabri Yaakob’s coalition, before it’s signed into law by the king.