{"id":14553,"date":"2015-03-13T14:49:45","date_gmt":"2015-03-13T06:49:45","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=14553"},"modified":"2015-03-13T14:49:45","modified_gmt":"2015-03-13T06:49:45","slug":"pm-new-loan-definitions-the-reason-debt-tripled","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/pm-new-loan-definitions-the-reason-debt-tripled","title":{"rendered":"PM: \u2018New Loan Definitions\u2019 The Reason Debt Tripled"},"content":{"rendered":"

\"najib\"<\/a><\/p>\n

A sharp increase in the country\u2019s debt was noted at the Dewan Rakyat recently. Malaysia\u2019s external debt has spike from RM196bil in the final quarter of 2013 to RM740.7bil in the third quarter of last year.<\/p>\n

The Prime Minister Datuk Seri Najib Tun Razak, who is also the Finance Minister, explained that the sharp increase was due to a new definition in debt reporting, which was in use since last year, he said in a written reply.<\/p>\n

\u201cThe new definition was in line with international debt reporting. This includes external offshore loans, public enterprises and the private sector,\u201d he said to reply to a question by William Leong Jee Keen (PKR-Sepang).<\/p>\n

Leong had asked the Finance Ministry to reveal the reason why the country\u2019s external debt stood at RM740.7bil and its impact on the country’s economy.<\/p>\n

The Prime Minister also added that the new definition showed the level of Ringgit denominator security debt held by foreigners, which comprised of two-thirds of the increase of external debt.<\/p>\n

\u201cThis is because of the depth, openness and attractiveness on Malaysia’s financial market,\u201d he added<\/p>\n

The Finance Ministry also revealed that the Government\u2019s debt as at December last year stood at RM582.8bil or 54.5% of the country’s Gross Domestic Product (GDP).<\/p>\n

\u201cFrom the total, 97.1% or RM566.1bil was domestic debt, while the remaining RM16.8bil or 2.9% was external debt.<\/p>\n

“The Federal Government\u2019s financial debt remains manageable and can be categorised as at a modest position,\u201d he said.<\/p>\n

The Government, he said, remains committed to ensure that the debt level remains under the 55% limit of the country’s GDP.<\/p>\n

[Source<\/a>]<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Malaysia’s external debt has swelled to RM740.7bil in the third quarter of last year from RM196bil in the final quarter of 2013, the Dewan Rakyat was told.<\/p>\n","protected":false},"author":9,"featured_media":14554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[242,216],"tags":[],"class_list":["post-14553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-management","category-news-updates"],"acf":[],"yoast_head":"\nPM: \u2018New Loan Definitions\u2019 The Reason Debt Tripled | iMoney<\/title>\n<meta name=\"description\" content=\"Malaysia's external debt has swelled to RM740.7bil in the third quarter of last year from RM196bil in the final quarter of 2013, the Dewan Rakyat was told.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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