This article first appeared in The Edge Malaysia Weekly, on July 25, 2022 – July 31, 2022. – A + A A country's ability to borrow cannot be determined solely by the headline debt to gross domestic product (GDP) figure; it also needs to take into account more pertinent factors like debt affordability as well as debt sustainability, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz rightly said in parliament last week, in reply to a question by the Member of Parliament for Pontian, Datuk Seri Ahmad Maslan. The former deputy finance minister had asked two questions that have gone viral on social media of late — whether Malaysia is at risk of going bankrupt like Sri Lanka, and why Malaysia doesn't just continue to borrow more money to help the people if the country's debt is indeed at manageable levels and it still has headroom to borrow. Citing prevailing economic indicators, Zafrul told parliament that the chances of Malaysia going bankrupt are very slim. Not only has the International Monetary Fund (IMF) never raised bankruptcy issues, Zafrul said the fund also expects Malaysia's economy to grow 5.75% in 2022. That is above the IMF's 3.6% forecast for the global… Read full this story
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The State of the Nation: Why Malaysia is unlikely to go bankrupt like Sri Lanka but cannot afford debt like Singapore have 306 words, post on www.theedgemarkets.com at August 1, 2022. This is cached page on CHUTEU. If you want remove this page, please contact us.