KUALA LUMPUR: After clearing a key vote in parliament, Malaysia is set to raise the limit on government debt for the second time in a little over a year as it seeks to fund additional pandemic support measures and bolster its economic recovery. Malaysia intends to boost its Covid Fund to RM110bil, from RM65bil, according to the bill. Malaysia is among several South-East Asian nations seeking additional ways to fund support programmes as they recover from one of the world’s worst Covid-19 outbreaks. Thailand last month raised its debt limit to accommodate higher borrowing and spending, while the Philippines is nearing a key threshold. Malaysia’s previously announced pandemic aid packages require an additional allocation of RM27bil, Tengku Zafrul told lawmakers.

Source: The Star October 11, 2021 23:26 UTC