KUALA LUMPUR – The government is allocating a sum of RM273.9 billion for next year’s budget, an increase of RM9.8 billion from last year’s budget, said Prime Minister Datuk Seri Najib Tun Razak when tabling the 2015 Budget in the Dewan Rakyat today.
Of the amount, RM223.4 billion is for operating expenditure and RM50.5 billion for development expenditure.
Under the operating expenditure, RM65.6 billion is for emoluments, RM38.1 billion for supplies and services, RM116.54 billion for fixed charges and grants, RM1.5 billion for purchase of assets with the remaining RM1.8 billion for others.
For development expenditure, RM29.3 billion is for the economic sector, RM12.6 billion for the social sector, RM4.9 billion for security sector, RM1.7 billion for general administration while RM2.0 billion is for contingencies.
Najib, who is also Finance Minister, expressed his confidence that Malaysia would achieve a strong economic growth of between 5.5 per cent and 6.0 per cent this year, thus improving the fiscal deficit.
The fiscal deficit declined from 6.7 per cent in 2009 to 3.9 per cent last year and was expected to reduce further to 3.5 per cent of Gross Domestic Product this year.
“(Since 2009) the economy expanded with positive growth in all sectors and registered GDP growth of 6.3 per cent,” he said, adding the country’s performance was the highest among Asean countries in the first half of this year.
On revenue, Najib said the federal government revenue collection was estimated at RM235.2 billion, an increase of RM10.2 billion, with RM690 million of the total collection accruing from the implementation of the Goods and Services Tax. – BERNAMA