Friday, August 29, 2008

Malaysia Budget 2009

Flash updates:

Government's 2009 Budget

Record government expenditure: RM207.9 billion (2008: RM176.9b)
Operating Expenditure: RM154.17 billion (74.1%)
Development Expenditure: RM53.73 billion (25.9%)

Budget Deficit

Budgeted deficit 2008 - 3.1%
Revised anticipated deficit 2008 - 4.8%(!)

Budget deficit 2009 - 3.6%

Public Transport

RM35 billion allocated for 2009 - 2014
(Average of RM5.8 billion per annum)

Public Sector

To expand by 4.7% in 2008
1.1% contribution to GDP growth in 2008
Share of GDP high at 24.1%

2008 Operational Expenditure (OE) Exploded

2008 OE Budget (announced last September) - RM128.8 billion
2008 Revised OE Budget - RM151.0 billion
Variation of 17.2% or RM22.2 billion(!)

2008 Development Expenditure (DE) Shrunk

2008 DE Budget (announced last September) - RM48.1 billion
2008 Revised DE Budget - RM46.2 billion

Government Revenue

Original 2008 Budget revenue: RM147 billion
Revised 2008 Budget revenue: RM161.6 billion (increased by 9.5% or RM14 billion)
Budget 2009 revenue: RM176.2 billion (increase by 9.2% or RM10.6 billion)

Petroleum Sector Contribution to Government Revenue:

Direct Taxes: RM35.826 billion
Indirect Taxes: RM2.939 billion (Export Duties)
Non-Tax Revenue: RM30.0 billion (Dividends) + RM6.272 billion (Royalty)
Total Revenue Contribution: RM75.04 billion (46.4%)

Education & Training Expenditure (Major Beneficiary - Yay!)

Operational Expenditure 2009 (2008) - RM37.7b (RM35.5b)
Development Expenditure 2009 (2008) - RM10.1b (RM8.5b)
Total Expenditure 2009 (2008) - RM48.8b (RM44.0b)

Transportation Expenditure

Drop despite public transport plan
Operational Expenditure 2009 (2008) - RM3.9b (RM4.7b)
Development Expenditure 2009 (2008) - RM7.6b (RM7.8b)
Total Expenditure 2009 (2008) - RM11.5b (RM12.5b)

OK, that's all the updates for now. I'm off to a series of interviews and a budget forum @ Sin Chew Jit Poh tonight (come if you are free and understand Mandarin, 8pm). More later ;-)
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