GOVT RECORDS REVENUE OF RM233B
Amount an increase of 5.7pc compared with 2017’s figure
THE federal government recorded a revenue of RM232.883 billion last year, a RM12.476 billion or 5.7 per cent increase compared with 2017, said the Auditor General’s Report released yesterday.
The national debt and financial commitments, meanwhile, stood at RM1.021 trillion as of Dec 31, 2018, it said.
The report revealed an expenditure of RM287.055 billion was spent on management, while development expenditure stood at RM287.055 billion, a RM24.477 billion increase compared with 2017.
“The federal government has recorded a RM53.385 billion deficit with ratio to Gross Domestic Product reaching 3.7 per cent.
“The federal government has made borrowings from within and without the country totalling RM131.599 billion to fund the development expenditure and repayment of debts.
“The federal government’s debt stood at RM741.049 billion with a debt-to-GDP ratio of 51.8 per cent.
“The government has issued loan guarantees for statutory bodies or companies totalling RM266.468 billion.
“Debts due to spending (of cost of obtaining loans and interest) grew to RM30.547 billion in 2018.”
Meanwhile, a total of RM31.058 billion was recorded in government investments in deposits, securities or stakes in companies or statutory bodies.
Government accounts receivable for 2018 was reported at RM86.935 billion, comprising of loans and amounts recoverable, as well as various accounts receivable, read the report.