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Federal government revenue amounted to RM232.883 bln in 2018

Last update: 14/10/2019
KUALA LUMPUR, Oct 14 -- The Federal government revenue in 2018 amounted to RM232.883 billion with repayment as well as receivables totalling RM788 billion.

The Auditor-General's Report 2018, the Federal Government's Financial Statements stated that operating expenditure amounted to RM230.960 billion while development expenditure RM56.095 billion.

"The Federal government had a deficit of RM53.385 billion with the ratio of deficit to the gross domestic product at 3.7 per cent. The deficit was accommodated by domestic and foreign borrowings amounting to RM131.599 billion,” it said.

Apart from funding development expenditure, borrowings were also utilised to repay a debt of RM77.492 billion, said the report.

Meanwhile, end of 2018 Consolidated Fund amounted to RM52.910 billion, where the amount is the cumulative balance of the three consolidated revenue account, consolidated loan account and consolidated trust account held in the form of cash amounting to RM23.648 billion and investment of RM29.262 billion.

Audit analysis found that consolidated loan account showed a substantial reduction amounting to RM18.258 billion or 54.5 per cent, while the consolidated trust account showed an increase of RM28.984 billion or 916.9 per cent.

Consolidated revenue account did not reflect the difference as all additional proceeds were transferred to the Development Fund.

"Overall, the balance of the Consolidated Fund increase by RM10.726 billion or 25.4 per cent, an increase from RM42.184 billion at the end of 2017 to RM52.910 billion at the end of the year 2018,” it said.

The report stated that the Consolidated Fund for five years showed an increasing trend except in the year 2016.

The highest balance for the Consolidated Fund was in 2018 due to a substantial increase in the Consolidated Trust Account from negative RM3.161 billion to RM25.823 billion.

Meanwhile, the Federal government financial statements for 2018 relating to loan repayment guaranteed to five Minister of Finance Incorporated companies amounting to RM 2.839 billion, where government guarantee for the loans acquired by the five companies amounted to RM76.075 billion had been approved before 2018 by the previous administration.

"As of Dec 31, 2018, the loan with a balance of RM66.341 billion that will mature until 2041 except one loan with a balance of RM94.38 million which will expire on 2019.

In 2018, the government has advanced part of the loan repayment guaranteed and mature amounting to RM2.839 billion on behalf of the companies, from which RM1.753 billion was paid by the previous administration while a total of RM1.086 billion had been paid by the current administration.

-- BERNAMA



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