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National Debt At ‘Safe’ Level: Wahid

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KUALA LUMPUR: Malaysia’s national debt is in the safe zone, said Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar (pic).

“Countries with a debt of over 100% of their gross domestic product (GDP) and deficit rate exceeding 4% are deemed to at a critical level.

“Meanwhile, countries with a debt of less than 70% of their GDP and deficit rate of less than 4% are said to be in the safe zone,” he said in Parliament on Thursday.

Abdul Wahid said Malaysia could be considered in the safe zone as the nation’s deficit rate had reduced in stages from 6.7% in 2009 to 3.5% last year.

“Our debt levels when taking into consideration the contingent liabilities, is 70%,” he said, adding that Malaysia was improving in terms of financial management.-The Star

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