Still, Zafrul rightly added that Malaysia needs to be prudent on finances and rein in debt according to what the country can realistically afford. Sri Lanka’s debt service ratioData on Malaysia’s net debt to GDP is not available on the IMF or World Bank’s public databases. Topping the list is Sri Lanka, which saw 71.4% of its revenue going to interest payments on debt in 2020. Debt service charges were pencilled in at RM43.1 billion in 2022 and could reach RM46 billion in 2023, our back-of-the-envelope calculations show. As debt needs to be repaid, Malaysia must learn to spend within its means and save for a rainy day.
