Lim: Seven-fold increase in consolidated revenue account
KUALA LUMPUR: The Pakatan Harapan (PH) government has proven its financial management capability as it has successfully increased the consolidated revenue account by seven-fold amounting to RM3.25 billion in four months from May to August 2018.
Finance Minister Lim Guan Eng said the consolidated revenue account had increased from RM450 million on April 30, 2018, an amount left by the Barisan Nasional (BN) government, to RM3.70 billion on August 31, 2018.
Revenue for the four-month period from May to August 2018 rose by RM1.70 billion to RM73.58 billion compared with RM71.88 billion in the previous four-month period from January to April 2018.
“The operating expenditure has declined substantially by RM12.96 billion, from RM83.29 billion for the January to April period to RM70.33 billion (May to August).
“The surplus in the current account balance which amounted to RM3.25 billion has helped the Federal Government to record an increased consolidated revenue account balance of RM3.7 billion on August 31, 2018,” he said in a statement.
Lim said the seven-fold increase in the consolidated revenue account explained how the PH government managed to secure sufficient funds to run the administration of the Federal Government including paying the monthly salaries and pensions totalling RM8 billion.
“The government is intent on proving that a clean government can not only liberate Malaysia from being known as a global kleptocracy but also help us find new sources of revenue,” he said. — Bernama