PUTRAJAYA: Finance Minister Lim Guan Eng confirms that Malaysia’s debt has surpassed RM1 trillion, contributed by the 1Malaysia Development Bhd financial scandal and mega projects by the previous government. “Based on the information consolidated from various ministries, so far I am able to confirm the country's debt is above RM1 trillion,” Lim said. As of June 2017, data from the Ministry of Finance revealed that the federal debt stood at RM685.1 billion. SAIRIEN NAFISYesterday , Prime Minister Tun Dr Mahathir Mohamad announced that Malaysia’s debt had surpassed RM1 trillion and that important measures would be taken for the nation to quickly recover from the situation. Lim concurred with Economic Affairs Minister Datuk Seri Mohamed Azmin Ali earlier statement that mega projects by the previous Barisan Nasional government had contributed to the Malaysia's debt of more than RM1 trillion.

Source: New Strait Times May 22, 2018 10:07 UTC