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Is Malaysia in DEBT and ECONOMIC CRISIS? Ringgit on Sharp Low

#malaysia #economiccrisis Depth Analysis of Malaysian Debt and Economy The national debt levels of many countries in developing Asia, have increased dramatically over the past decades. Particularly during the immediate government response to the pandemic, strengthens their financial obligation from the multi-billion infrastructure projects accumulated over the past few years. These unprecedented upward trends of indebtedness utilize a high external debt level for fiscal activities. Among these countries, is Malaysia, one of the major economies in Southeast Asia. Malaysia’s Finance Minister has revealed, that the country’s National debt has amounted to 1 trillion and 45 million Ringgit, or around $234.4 billion. This amount constitutes 63.8% of its gross domestic product. In addition, several Government subsidiaries, whose debt is off the book of the National Government. One Malaysia Development Public Limited Company has a total liability of 32.08 billion Ringgit, while Suria Strategic Energy Resources, a subsidiary of the Ministry of Finance is also liable for 8.7 billion Ringgit. Including these figures, will sum up to $243.5 billion, adding almost $10 billion to Malaysia’s national debt. As Malaysian government, continued to issue sovereign debt to support economic recovery efforts, amid heightened risks from global inflation, slowing global growth, and a more aggressive monetary policy stance by the United States Federal Reserve. According to the Asian Development Bank report, Malaysia is among the top 3 bond issuers in Southeast Asia amounting to $410 billion, with Singapore being the highest with $463 billion, while Thailand’s Bond issuance amounts to $427 billion. The $410 billion bond obligation represents more than the country’s 2021 nominal Gross Domestic Product of $372.7 billion, this represents 110% of its GDP. The $230 billion represents the Government bond issuance which is 62% of GDP, and the remaining $179 billion are from the corporate bond issuance, 48% of the country’s GDP. In addition to all of these, the weakening ringgit against the US dollar, makes the currencies the worst performer in the region. Currency collapse, soaring borrowing rates, uncontrollable inflation, investors and businesses are in despair, spanning just a matter of weeks, aggravated by the political propaganda. Worsening Malaysia’s business environment Malaysia's federal government debt is expected to rise to 1 trillion and 160 million ringgit or $362 billion in 2023, up from 1 trillion and 77 million ringgit by the end of this year. Unless Malaysia, sharply cuts back on its subsidy bill which is estimated at 80 billion ringgit this year, the government may have to borrow to cover part of its debt repayments next year. Malaysia's forex reserves, which have continued to shrink from $167.4 billion at the beginning of the year, stood at $108.2 billion by the end of August, down from US$109 billion at end of June. World Bank lead economist for Malaysia communicated there is no easy fix for Malaysia, similar circumstances were also by its neighboring states. Bank Negara is doing what it can, but basically, the strength of the currency will depend on how well the economy will perform. And how well Malaysia, can keep its focus on its fundamentals and structural reforms. Sources: https://www.adb.org/sites/default/fil... https://www.bnm.gov.my/-/detailed-dis... Join this channel to get access to perks:    / @aseananalytics