Malaysia national debt increased to 50.6% of GDP

According to the reply from Prime Minister Nazib Razak to Taiping MP Nga Kor Ming in the parliament, the latest national debt of Malaysia now stood at RM378.3 billion, or 50.6% of the GDP.

This means that for every citizen in Malaysia, we are bearing a national debt of RM14,000 per person on average.

The national debt has surged by 19.1 billion during the 1st quarter of 2010! Compared with the national debt at RM230 billion when RMK-9 was just began, it has increased by RM148.3 billion within just 5 year! During 1997, our national debt was just 96 billion.

If the national debt continues to grow at a CAGR of 12%, by 2019, it will eventually reach RM1 trillion!

The alarm has already triggered, and the government as well as the citizen must wake up now, if we don't want to repeat the history of what is happening in Greece now!