Govt looks to raise debt ceiling in newly tabled Covid-19 financing bill

PARLIAMENT | The government is seeking to raise the national statutory debt limit from 55 percent to 60 percent of the gross domestic product (GDP) to "accommodate additional borrowings" to finance economic packages related to the Covid-19 pandemic.

This is part of the Temporary Measures for Government Financing (Coronavirus Disease 2019 [Covid-19]) Bill 2020, tabled at noon at the Dewan Rakyat today, along with the official establishment and application of the Covid-19 Fund...