AG's Report: Federal govt debt increases by RM147b

PETALING JAYA: Debts incurred by the federal government have shown a gradual increase from RM501.617 billion in 2012 to RM648.475 billion in 2016 according to the first series of the 2016 Auditor-General (AG)'s Report, released today.
The report also stated the increase of RM18 billion in total debt between 2015 and 2016 was due to an increase in domestic debt of 15.579 billion and overseas debt of RM2.176 billion in 2016.
The costs of getting loans and interests which fall under national debt expenditure also showed an increase for five consecutive years, from RM19.537 billion in 2012 to RM26.48 billion in 2016.
In 2015, the spending stood at RM24.283 billion and increased by RM2.197 billion or 9% to RM26.48 billion in 2016.
The federal government, the report said, had borrowed close to RM100 billion for development expenditures and to pay back debts previously incurred.