Credit ratings cut on cards for Malaysia

Credit ratings cut on cards for Malaysia
Malaysia Sun
Saturday 28th April, 2012  

Malaysia faces a credit ratings cut over concerns about its high national debt.

Standard Poor's and Moody's have said there is a possibility that the credit rating could be downgraded if the debt is not lowered.

While Malaysia's central bank has said the national debt is manageable given Malaysia's improved economic credentials, there have been suggestions the debt has been created by current government politicians who have spent large amounts of government money to gain support ahead of the nearing general election.

The Malaysian national debt currently stands at 54 per cent of its gross domestic product.