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Outstanding external debt fell to RM877.5bn as at end-June

KUALA LUMPUR, Oct 27 (Bernama) -- Malaysia's outstanding external debt decreased to RM877.5 billion, or 65.2 per cent of gross domestic product (GDP) as at end-June this year compared with RM916.1 billion, or 74.5 per cent, at end-2016.

"(This was due to the) revaluation effect following the strengthening of the ringgit against selected major and regional currencies as well as net repayment of interbank borrowing during the second quarter,¡¨ according to Economic Report 2017/18 released by the Finance Ministry today.

The report also revealed Malaysia's offshore borrowing, the largest component of external debt, has decreased to RM520.6 billion, or 38.7 per cent of GDP, from RM531.3 billion, or 43.2 per cent in 2016, mainly due to revaluation and lower interbank borrowing.

For medium- and long-term debt, private sector debt contracted to RM165.4 billion on account of lower net borrowing by the bank and non-bank.

Meanwhile, public sector offshore borrowing was sustained at RM127.1 billion, or 9.4 per cent of GDP, with public corporations as the largest contributors at 8.1 per cent of GDP while the remaining is from the Federal Government.

For public sector debt, it stood at RM901.2 billion, or 73.3 per cent of GDP, compared with RM870 billion (75.1 per cent) registered as at end-2016, with the Federal Government accounting for RM648.5 billion (72 per cent) of total public sector debt from against that of RM630.5 billion recorded in 2015.

As at end-June 2017, the Federal Government debt stood at RM685 billion whereby 96.7 per cent was domestic debt while the remaining from offshore borrowings.

Domestic debt mainly comprised the Malaysian Government Securities and Malaysian Government Investment Issue with an outstanding amount of RM362.9 billion and RM261.5 billion respectively.

 

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