Government registers lower 2016 earnings at RM212.421 billion

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.