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Most read in 2018

Malaysia reveals national debt far higher than figure under Najib

Total above $250bn raises speculation that records were altered

Former Malaysian Prime Minister Najib Razak is under investigation, accused of misappropriating money from the 1Malaysia Development Berhad state fund.   © Reuters

SINGAPORE -- The Malaysian government under Prime Minister Mahathir Mohamad has revealed that the national debt is far higher than figures published by the previous administration, topping 1 trillion ringgit ($251 billion). 

The larger debt figure, which was officially 686.8 billion ringgit at the end of 2017, has led to speculation that former Prime Minister Najib Razak's government altered records to hide the extent of corruption. The revelation has shaken investor trust and the fiscal turmoil could scare foreign money away.

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