KUALA LUMPUR: Putrajaya’s expenditure on subsidies in 2022 amounted to RM55.443 billion, marking a 322.1% increase or an additional RM42.309 billion from the previous year’s expenditure of RM13.134 billion, according to the Auditor-General’s Report 2022. The report revealed that subsidies for petroleum products accounted for the highest expenditure, totaling RM45.184 billion or 81.5% of the total expenditure. In 2022, the government’s total revenue was RM294.357 billion with an expenditure of RM395.246 billion.
The Auditor-General’s Report 2022 disclosed that the Federal Government’s financial statement recorded higher revenue and expenditure in 2022 compared to the previous year, resulting in a deficit of RM99.48 billion. However, the government successfully reduced its fiscal deficit to 5.6% of the gross domestic product (GDP) in 2022, down from 6.4% in the previous year.
For more related information, read the news article “Subsidies to cost govt RM100bil unless reforms made, says Rafizi”.
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Credit: The Star : News Feed
