Auditor General worries over borrowings being used to settle debts

Auditor General Nik Azman Nik Abdul Majid has expressed worries that 59.9 percent or RM82.723 billion of the federal government New Borrowing Receipts for financial year 2019 was used to settle debts.

He said ideally, the new borrowings should be used for development purposes and to create a multiplier effect in developing the economy.

"Only a small portion which is 29 percent is channeled to the development fund, which is worrying... development expenditure should be used more productively so that the projects the government funds gives higher multiplier effect to generate the economy and at the same time have value for money,” he said...