For the 1st quarter of 2011, the central government debt sits at RM430,151 million compared to RM407,101 million for the same period in 2010, i.e up RM23 billion. Of the RM430,151 million, RM425,831 million is medium and long term debt.

Domestic debt sits at RM414,217 million whereas in the same period in 2010 it sat at RM390,356 million. Again the medium and long term debt is the bigger bulk of the debt at RM409,897 million.

Plainly stated, the Government of Malaysia owes the central bank and funds like the Employee Providence Fund monies that run into the billions. Such debts are a mystery when you take into account that the central government operational expenditure has actually decreased. For April of 2011, the figure stands at RM13,769 million; a reduction compared to RM19,416 million for the same period last year.

Bear in mind the figures above are for the first quarter of 2011, there are still eight more months to go for 2011, and this figure would surely be on the rise if we take into consideration the pending General Elections and various other government initiatives.

Full Article: The Malaysia Chronicle.

Malaysia is in a grim state, heading the way of Greece.