MOF: Debt ceiling won't be raised again

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The RM15 billion assistance package for the second movement control order (MCO 2.0) is expected to have a minimal fiscal impact on the country.The government has no plans to increase the statutory debt level to more than 60 per cent of the nation’s gross domestic product (GDP).Deputy secretary-general of Treasury (Policy) Zakiah Jaafar said the government remains committed to maintaining the fiscal deficit target at 5.4 per cent of the GDP."We are still at the beginning of the year, so we can still re-align government spending based on current priorities and through more prudent spending practices."The government's priority is to ensure spending according to the set limits, strict monitoring and in ensuring that the allocation reaches the target group," she said during Bernama TV’s Ruang Bicara programme last night.

The aid package is referred to as "Pe…