KUALA LUMPUR, March 22 — The government has always been consistent in explaining the statutory debt, whether in Parliament or to the media, and the statutory debt is always referred to as comprising Malaysian Government Securities , Malaysian Government Investment Issues and Malaysian Islamic Treasury Bills , Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.
Explaining further, he said the domestic debts are those governed by the Loan Act 1959, Government Funding Act 1983 and Treasury Bills Act 1946. These Acts cover the MGS, MGII and MITB, as well as Malaysia Treasury Bills . Meanwhile, the external debts or offshore borrowings are those meant for projects such as Japan International Cooperation Agency or Islamic Development Bank loans and market loans .
Should the offshore and other borrowings were included, the Federal Government debt would then total to RM879.6 billion or 62.2 per cent of GDP.
Source: News Formal (newsformal.com)
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