Finance Minister Lim Guan Eng told the Dewan Rakyat on Friday that the government is committed to pay back all the debts inherited from the previous administration at the height of “kleptocracy”.

He also said the government had recovered RM1.45bil of funds from the 1MDB scandal and would continue to recover all other funds.

He added that the fiscal deficit had been revised to 3.2% from 3%, a target for 2020 announced last year that cannot be met due to the heightened risk of global economic slowdown and the unanticipated expenditure needed to rescue troubled institutions.