Re: [mkini] Govt debt to reach close to half of GDP
- From: bear@xxxxx (Polar Bear)
- Date: Fri, 31 Mar 2006 14:00:15 GMT
still better than Japan. Malaysia is on a firmer footing than Japan , yeah right !!!
On Fri, 31 Mar 2006 18:48:05 +0800, pluto <pluto@xxxxxxxxxxxx> wrote:
Govt debt to reach close to half of GDP
Mar 31, 06 4:35pm
Federal government debt will balloon to RM351.3 billion, or 48.6 percent,
of the GDP by the end of the 9th Malaysia Plan in 2010.
Over half of the debt is a result of deficit spending from 2000 to 2010.
Under the 8th Malaysia Plan, the government had planned to limit the
deficit to RM29.8 billion, or 1.5 percent, of the GDP.
Instead the federal government ran a deficit of RM97.8 billion, or 4.8
percent, of the GDP.
http://images.malaysiakini.com/39/38/9613.gif
This brought the total government debt by the end of the previous plan in
2005 to RM228.6 billion, or 46.3 percent of the GDP.
Under the current plan the government deficit will amount to RM107.6
billion, or 3.4 percent, of the GDP.
Who?s financing deficit?
The federal government is expected to lean on local funds, such as the
Employees Providence Fund, to finance the deficit.
Domestic debt and foreign debt will reach RM319.9 billion and RM31.3
billion respectively.
Debt servicing will grow by 10.2 percent reaching RM79.4 billion over the
next five years.
The deficit spending comes despite growing income from petroleum exports
and taxes, as well as a reduction on petrol and energy subsidies.
Besides spending RM200 billion on development, the government will be
spending RM595.5 billion on operating expenditure, including RM154.6
billion on emoluments and RM199.3 billion on supplies and services.
It is not clear how the federal government plans to reduce its debts.
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=========================end, and/or end quote================
-pluto
.
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