Gov­ern­ment reg­is­ters lower 2016 earn­ings at RM212.421 bil­lion

New Straits Times - - News -

KUALA LUMPUR: The Au­di­tor Gen­eral’s Re­port 2016 Se­ries 1 re­leased yes­ter­day re­vealed that there was a down­ward trend in the Fed­eral Gov­ern­ment rev­enue.

Last year, the gov­ern­ment earned RM212.421 bil­lion, a de­crease of RM6.668 bil­lion or three per cent. This is in com­par­i­son with the 2015 rev­enue of RM219.089 bil­lion.

The Trea­sury al­lo­cated man­age­ment ex­pen­di­ture of RM212.3 bil­lion, of which 99 per cent or RM210.173 bil­lion was spent.

In terms of devel­op­ment ex­pen­di­ture, min­istries and fed­eral de­part­ments spent a to­tal of RM41.995 bil­lion or 97.9 per cent of the ap­proved al­lo­ca­tion of RM43.003 bil­lion.

“The gov­ern­ment suf­fered a deficit of RM38.4 bil­lion with a deficit ra­tio to the gross do­mes­tic prod­uct at 3.12 per cent.

“The deficit was sup­ported by lo­cal and in­ter­na­tional loans amount­ing to RM99.859 bil­lion.

“Apart from devel­op­ment ex­pen­di­ture, these loans were also used to re­pay and sup­port the Hous­ing Loans Fund,” the re­port stated.

Over­all, the Fed­eral Gov­ern­ment’s fi­nan­cial state­ments for last year in­di­cated a valid and fair de­pic­tion of its fi­nan­cial po­si­tions and its ac­count­ing records had also been well main­tained.

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