Govt debt growth expected to decrease to 7.5pct this year

The federal government’s debt growth is expected to continue to decrease, ending 2024 at around 7.5 percent compared to 8.6 percent in 2023 and 10.2 percent in 2022, according to the Finance Ministry.

This decline reflects the government’s commitment to ensure the debt-to-gross domestic product (GDP) ratio is reduced and does not exceed 60 percent, as stipulated in the Public Finance and Fiscal Responsibility Act 2023 (Act 850).

As of the end of June 2024, the federal government’s debt...