Zafrul to propose raising statutory debt limit to 65pct

Finance Minister Tengku Zafrul Abdul Aziz will propose to raise the statutory debt limit to 65 percent from the current 60 percent of the gross domestic product (GDP).

He said although the statutory debt-to-GDP ratio is currently at about 58 percent, given the commitment made by the government to support the people and businesses, the debt-to-GDP ratio would probably increase to above 60 percent by year-end.

“Today, we are still below 60 percent, at about 58 percent of our statutory debt limit. Even if we breach it, it will be marginal, but we...