KUALA LUMPUR (April 27): Prime Minister Datuk Seri Najib Tun Razak said the Malaysian Government had been prudent in its spending as the public sector observed its limits, Bernama reported today.

Bernama quoted Najib as saying the Government was not extravagant in its expenditure.

"We cannot be hasty to spend and be drawn into spending. If we borrow, it must be for productive investment," said Najib, who is also finance minister.

He was speaking at the Finance Ministry's Excellence Service Award ceremony in Putrajaya today. Najib said the Government would ensure the country's debt level as a percentage of gross domestic product (GDP) remained below 55%.

In 2016, Najib said the nation's debt level stood at 52.6% of GDP.