Former economy minister Datuk Seri Rafizi Ramli has warned that Malaysia’s national debt has reached RM1.3 trillion, or 64.7% of GDP — just below the 65% statutory limit.

Speaking during the Budget 2026 debate, the Pandan MP said the figures highlight the need for urgent reform in debt management, cautioning that even minor economic shocks could push the debt beyond safe levels.

He urged a full overhaul of the debt management system and called for greater parliamentary oversight through the Select Committee on Finance and Economy to cut total debt and servicing costs sustainably.

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