The Finance Ministry has dismissed claims that Malaysia is nearing bankruptcy, stating that the government is disciplined in debt management, with a manageable debt level of 60.4% of GDP as of June 2022, well below the 65% legal limit. Finance Minister Tengku Zafrul emphasised that 97% of debt is ringgit-denominated, reducing currency risk, and that major rating agencies regard Malaysia’s debt as sustainable. The government lodged a complaint with MCMC over misleading social media reports that could impact investor confidence.MINISTER: MALAYSIA NOT ON VERGE OF BANKRUPTCY
The Finance Ministry has dismissed claims that Malaysia is nearing bankruptcy, stating that the government is disciplined in debt management, with a manageable debt level of 60.4% of GDP as of June 2022, well below the 65% legal limit. Finance Minister Tengku Zafrul emphasised that 97% of debt is ringgit-denominated, reducing currency risk, and that major rating agencies regard Malaysia’s debt as sustainable. The government lodged a complaint with MCMC over misleading social media reports that could impact investor confidence.
