Paying Matured Debt With New Loans By Fed Govt Worrying: Auditor-General

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(Bernama) – The position of the government of depending on new loans to finance the repayment of loan principals which have matured is described as worrying.Auditor-General, Datuk Nik Azman Nik Abdul Majid(pix) said even though the certificate of the Auditor-General for year 2020 was issued with a clean certificate status without any reprimand, several matters should be given emphasis including the status of federal debts.“Half of the new loans were used to pay loans which have matured when they should be paid with surplus revenue.“Nonetheless, in 2020, the country was facing the Covid-19 threat and the government was forced to take measures to assist the health system and the people to combat Covid-19,” he said at a media conference at Parliament building here today.The Auditor-General’s Report on the Federal Government Financial Statement as well as 2020 Federal Ministries a…