PUTRAJAYA (April 26): The Ministry of Finance (MoF) said the government will be using RM5 billion from the National Trust Fund (KWAN) for the fight against the pandemic, as well as for the country's immunisation plan.

During a special briefing earlier today, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the government's finances are nearing their limit, noting that the statutory debt level is currently at 58% of gross domestic product (GDP), nearing the 60% ceiling.

He added that the country is burdened with debts arising from 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd, as well as from Private Finance Initiative (PFI).

"The current government has inherited high levels of debts and financial commitments from 1MDB, SRC, GovCo, SSER and PFI. These debts have zero multiplier effect and zero contribution to the economy.

"The government's borrowings are nearing the 60% [of GDP] ceiling. There is no other choice but to use KWAN's funds," he said.