- 22小时前
八点最热报 | 总稽查司报告昨天呈上国会，报告显示，联邦政府债务在2025年增加5.9%，来到1兆3210亿令吉，与此同时，政府债务偿还费用也升至537亿令吉，一年增加32.3亿令吉，占政府营运开支的16.2%。这么大笔钱要还，钱还出去，政府还有多少“钱”可以用呢？ （主播：梁宝仪）
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00:04Yesterday, the General Secretary's investigation report was submitted to Parliament.
00:07That's not an ordinary audit report.
00:10Rather, it is a national fiscal bill that is increasingly difficult to ignore.
00:14The bill stated a national debt of 1.3 trillion.
00:19Is this number something to be afraid of?
00:21The total number of relay identification reports shows
00:23Federal government debt is projected to increase by 5.9% by 2025.
00:26Reaching RM1.3211
00:29At the same time, government debt repayment costs also rose to RM53.7 billion.
00:35An increase of RM3.23 billion in one year.
00:38This accounts for 16.2% of government operating expenses.
00:41In other words, for every RM100 the government spends on daily operations...
00:45More than RM16 needs to be used to pay off debts first.
00:49And as of the second quarter of 2026
00:52Central government debt has further increased to RM1.3788 trillion.
00:57Such a large sum of money needs to be repaid.
00:59If it's repaid, how much money will the government have left to use?
01:04If we compare national finances to a hospital
01:07The government is the attending physician.
01:09The problem isn't that the hospital is running out of money.
01:11It doesn't mean the patient is critically ill.
01:13Instead, the hospital's resources are increasing every month.
01:17The old wounds must be treated first.
01:20The income will be used to pay off that old debt first.
01:23Only after the debts are paid off can new construction and new problems arise.
01:27This is where the 1.3 trillion yuan national debt is truly worrying.
01:31Then we see the looming threat of a 1.3 trillion yuan national debt.
01:34But let's not rush to declare the country bankrupt.
01:37Because based on the current data...
01:39my country is still far from reaching the conclusion that this conclusion is invalid.
01:43Many people only see the 1.3 trillion yuan in government bonds.
01:46That's what everyone should really be focusing on.
01:48It's another number.
01:50Government debt repayment of RM53.7 billion
01:55Government bonds are like a fixed money-sucking device installed inside the fiscal machine.
01:59The machine starts up every year
02:01The first thing to ask is not how the country should develop.
02:03What do the people need?
02:04Instead, they should first ask how much of the money borrowed in the past needs to be repaid.
02:07Then there's the remaining space.
02:10How should the government build and develop?
02:12How to help the people
02:13This is what is known as fiscal space.
02:16That fiscal space isn't in the government account.
02:19It's not as simple as just how much money is left.
02:20It represents how much capacity the government still has.
02:23Making choices during a crisis
02:28Switchboard investigation report reveals
02:30Federal government debt will increase by 5.9% by 2025.
02:33Reaching RM1.3211
02:36National debt increases year by year
02:38Instantly sparked discussion
02:39Does relying solely on data mean...?
02:41Malaysia is on the verge of danger.
02:44Cai Zhaoyuan, Director of Tax and Financial Consulting at Aceh Financial Centre
02:47Zhang Yonglong, Associate Professor of Economics at the University of Nottingham
02:51When interviewed by 8pm's hottest news, they all said
02:53This 1.3 trillion is not a huge debt that appeared out of nowhere.
02:58Instead, it's a series of old debts accumulated one by one.
03:01Although the number is large
03:02But that doesn't mean it's out of control.
03:04From the fiscal deficit in 1998 to now
03:09We've been constantly borrowing money.
03:12So what about these borrowed money?
03:13It will accumulate.
03:16This accumulated over 20-30 years.
03:17Even though it's this high
03:18But...
03:19Our government has set a ceiling.
03:23It's about our national debt.
03:24It cannot exceed 65% of our GDP.
03:30Based on the current data...
03:32It remains around 63%.
03:35Although compared with other countries
03:37For example, compared with other middle-income countries
03:39We are at a relatively high level.
03:41But it hasn't reached a dangerous point yet.
03:43And another thing is that we also need to look at...
03:45That kind of debt of ours
03:47For example, what exactly is our debt?
03:49Calculated in Malaysian Ringgit
03:50Or is it calculated in foreign currency?
03:52In that respect
03:54my country is relatively safe
03:55Because most of my country's debt
03:56It seems to be as high as 97-98%.
03:58All are calculated in Malaysian Ringgit.
03:59In other words, my country's debt
04:01Not easily affected by the Malaysian Ringgit against the US Dollar
04:03Or the one for other currencies.
04:04Impact of loss ratio fluctuations
04:07Since the national debt has reached 1.3 trillion and is not out of control
04:09Why is the national debt still increasing?
04:11Perhaps it can be understood using a credit card.
04:14It's not that I didn't use it enough this month.
04:16The debt will disappear immediately.
04:17Because the money borrowed in the past is still there.
04:20It's just that the borrowing is a little slower now.
04:22Therefore, the total debt continues to rise.
04:26The rate of increase has just begun to slow down.
04:29Malaysia is still considered a developing country.
04:32So what about many developing countries?
04:35Their debts are basically a matter of using debt to pay off other debts.
04:39It's about when you're paying off old debts.
04:43You usually issue new bonds.
04:47To redeem this old debt
04:49Therefore, many countries use a debt-to-debt approach.
04:52Of course, we still hope that one day...
04:56Malaysia is able to repay that principal.
04:59Not just constantly paying interest
05:01Because if we keep paying interest
05:03In this case, your debt will not decrease.
05:07The money he borrowed before is still there.
05:08Then let's talk about the other part.
05:09He didn't mean there were no new loans.
05:12He's borrowing money more slowly than before.
05:14It's not that there's none at all.
05:15He has that newly added part.
05:17Therefore, that proportion will still rise.
05:18It just means that the rate of increase will slow down.
05:21Both respondents believed that borrowing money is not necessarily a bad thing.
05:24A country needs to build hospitals, schools, and roads.
05:27Conduct research and development to improve infrastructure
05:29These are all about spending money today to buy future development.
05:33So the real question should be asked
05:35Perhaps the question is no longer whether the government should lend money or not.
05:38Instead, it's every dollar borrowed.
05:40Has it resulted in greater productivity in the future?
05:43Because government debt can be gradually reduced.
05:46But if every new debt is just to fill the old hole...
05:49That hole will not truly disappear.
05:52So the key point is...
05:54To be a developing country
05:56We still need to borrow money.
05:58It's just that you borrow money
05:59Where did the borrowed money go?
06:01That's the key point.
06:03Where does the money you borrow come from to pay?
06:07What about the fortune oil today?
06:08Basically, it will cost us about 40 billion a year.
06:12Four hundred billion is a figure from Tian Wen.
06:15In fact, the government could use this money to improve people's income.
06:20So if the government borrows money to create future revenue...
06:24For example, when talking about building roads, schools, or doing R&D...
06:28This is definitely a very good thing.
06:32Our government also has laws and regulations.
06:34The borrowed money can only be used for development expenses.
06:36Instead of operating expenses
06:38At the same time, the government also began to set rules for itself.
06:41Debt cap
06:43Borrowing money can no longer be done the way it used to.
06:45Borrow as much as you want
06:47Another piece of good news is
06:49The government is indeed trying to apply the brakes now.
06:52Reduce the fiscal deficit year by year
06:54From 4.1% in 2024
06:57Drop to 3.7% by 2025
07:00The target continues to move closer to 3%.
07:04We can see that the government has been doing this for the past few years.
07:07Because the economy in recent years has been relatively...
07:09Overall, these have been relatively stable years.
07:12So in this area, which is not particularly large
07:15Under the impact of economic downturn
07:17The government is currently working hard to
07:19The ratio of fiscal deficit to GDP
07:22To move towards the 3% target in the short term.
07:25Last year it had already reached 3.7%.
07:28Then this year it should gradually decrease to 3.5%.
07:31Then next year's target may be lower.
07:33Therefore, these are all the right directions to strive for.
07:36We refer to borrowing money or debt
07:38A bottom line has been set.
07:40It is produced in our country.
07:43This 65% under the organization
07:45So the government last year
07:47It has basically passed.
07:49This financial responsibility bill
07:52The Minister of Finance is not allowed to borrow money at will.
07:56He doesn't seem like he was in the 1MDB era.
07:59We can freely go to Garantee
08:02Provide Garantee
08:03Issuing any of these bonds in this way
08:06Therefore, this financial liability law was established.
08:10Basically, he is better able to protect the entire country.
08:15This would avoid the situation being influenced by a particular finance minister.
08:18Or perhaps it's due to some misguided leadership by a particular prime minister?
08:23This essentially plunged the country into a crisis.
08:32Actually, looking at it without subjective emotions
08:34So, what has our government done in the past few years?
08:35The fiscal deficit has already been covered
08:36From 6.4% in 2021
08:39It has been gradually reduced to 3.7% by 2025.
08:43And by rationalizing subsidies and other reforms to save on production...
08:47Used to buffer the impact of new energy sources
08:49This is the result.
08:50But it cannot be used as an anesthetic.
08:52What about future fiscal policy?
08:54We cannot simply pursue a beautiful deficit figure.
08:56If the government wants to keep the deficit in a good position
08:59Cut investments that could actually increase productivity.
09:02So, the key is to make today's accounts look good.
09:05But they messed up tomorrow's accounts.
09:08in turn
09:08If the government tries to appease the market and voters
09:10Continue to expand subsidies indefinitely
09:13Aid and Expenditure
09:15But if the revenue structure and debt costs are not addressed...
09:17That also pushes the problem back.
09:19One is over-braking
09:21One is to keep pressing the accelerator.
09:22That truly mature fiscal policy
09:24It is between the two.
09:26Find a speed that can be maintained in the long term
09:28This is today's 1.3 trillion yuan national debt.
09:31The real alarm that should be brought to Malaysians
09:33my country's debt repayment costs
09:36It has increased to RM53.7 billion.
09:40We are entering a money
09:42An era where spending money is becoming increasingly difficult
09:44The government can continue to borrow
09:45The market may not necessarily say that.
09:46They will soon lose confidence.
09:48The economy could even continue to grow.
09:50However, fiscal space doesn't appear out of thin air.
09:53Debt will eat up space
09:56Subsidies will eat up space
09:58Inefficiency also eats up space.
10:00The real final decision
10:03Malaysia's future
10:04How much more can the government borrow?
10:05Instead, it's after the government has paid off the money from the past.
10:09How much capability do we have left?
10:10Able to bet on the future
10:12Can national debt be controlled?
10:14Ultimately, it's not about how much money we borrowed.
10:17Rather, it was the money we borrowed.
10:19Did it actually make tomorrow's Malaysia
10:22Become more capable of repaying money
10:28good
10:29good
10:29good
10:29good
10:29good
10:29good
10:29My birthday
10:30good
10:31good
10:31good
10:33good
10:34Subtitle volunteer Yang Qianqian