In line with the commitment to improve financial management, without neglecting national development, the MADANI Government has implemented measures to reduce the increase in national debt.
Between the years 2021 and 2024, Malaysia’s development expenditure has increased by 44% or 13% for the compound annual growth rate (‘compound annual growth rate’; CAGR), from RM64 billion to RM92 billion.
Although the MADANI Government has increased development spending, the increase in new net debt has slowed from RM100 billion in 2021 and 2022 to the projected RM86 billion for this year.
This commitment is realized through the determination to improve governance through the elimination of leakage and waste.
The MADANI Government’s intention to improve the country’s financial position has become a legal provision with the enactment of the Public Finance and Fiscal Responsibility Act 2023.
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