The Malaysian government remains committed to reducing its national debt while investing in the country’s future, according to Prime Minister Datuk Seri Anwar Ibrahim. In a recent interview with CNBC, Anwar revealed that Malaysia’s fiscal deficit has decreased to 5.0% of GDP in 2023, down from 5.6% in 2022, with a target to lower it further to 4.3% in 2024. The national debt currently stands at RM1.5 trillion, or 64% of GDP, and the government aims to gradually reduce this to 60%.
National debt
Despite these debt-reduction efforts, Anwar stressed the importance of continued investment in education, healthcare, and infrastructure to improve the quality of life for Malaysians. The government reduced its borrowings from RM93 billion in 2023 to a projected RM86 billion in 2024, but Anwar noted that more needs to be done to achieve long-term fiscal sustainability.
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