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PH won't resort to off-balance sheet financing, says Guan Eng

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The finance minister says the increase in direct debt last year was because Putrajaya refused to resort to off-balance sheet financing 'to cover up dubious debts'. FMTNews

Finance Minister Lim Guan Eng says the previous administration had kept under wraps a ‘substantial portion’ of debt and liabilities.

Off-balance sheet refers to items that are effectively assets or liabilities but do not appear on the balance sheet. He said this included the RM38.3 billion worth of 1MDB debt which the Barisan Nasional government was secretly servicing. “However, the financial cost, risks and obligations of these projects lie entirely with the federal government.

 

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