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 ;-)
14 comments:
thats a huge jump for expenditure. must be mainly from O&G $$
No lah ... cost of Permatang Pauh by-election lah.
cronies salivating? another round of plundering? lets watch closely. see how contracts are given? if its on silver platter, go after these corrupts.
Operating Expenditure: RM154.17 billion (74.1%)
Wow! And what do we get back from these spendings? And this is just operating expenditure.
Government operating expenditure is surprising! :O
The budget deficit of 4.8% does seem too high when you look at the projected revenue of RM162bil for 2008 versus RM141.8bil received in 2007. Would Petronas oil tax revenues and dividends be much bigger given that average oil prices rose by nearly 60% to US$115 for the first eight months of 2008?
Bodohwie claimed that the economy grew 6.3% There are bankers & analysts out there who think this is incorrect. They suspect the books were cooked.
This shows our PM is still clueless and in capable to do his job...totally misleading and non constructive ideas..
They are just continuing being a big spender of our rakyat's fund and out of ideas, what they know is to try to gain rakyat's heart by giving away little sweets and buy desperate votes...
Don't they have better expertise and better economics minds????
Spend, spend, spend is all they know...!!!!!
Rugi, rugi, rugi is all we get!!!!!!
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%)
this is a good expenditure...
But dunno this time how they expend it.
previously, all expenditure is good also.
but how this money distribute? where the money gone?
eg:- government increase the "提高获得福利金援助金" is this money really go to the people they need help?
i still heard from people who need help said they didnt get anything. And the money had transfer to some account register under rumah orang tua, orang cacat and anak yatim. but the beneficial is the MB of BN.
Dear Tony,
Personally, I am extremely dissappointed with the 2009 Budget.
I completely failed to understand why the Deficit is now higher than last year, when Petronas should be contributing even higher.
The media reporting is extremely poor too.
For example, what is the $ figure for 2009 Budget Deficit, compared against 2008 Budget Deficit (Original and Revised)?
The media mentioned % terms, but they must also mention $ terms, because I believe the $ terms must grow proportionately larger!
My key concern is that with such large Petronas contributions now AND we see even Bigger Deficits, this is extremely bad trend.
What will happen when our Petronas monies shrinks - e.g. when we become a Net Oil importer later?
There should be no good reason why the Deficit should not have shrunk and become a Surplus.
I am also deeply concerned that the Operating Expenditure and the Development Expenditure can increase so much this year compared to Original Budget figures last year.
The media is reporting it to be small, but this is misleading because it didn't compare Original Budget with Original Budget YoY.
This is a half past six reporting of Budget figures by the media, which makes it completely impossible to make meaningful conclusions, if the media is all that one have to rely upon.
I strongly criticize current Budget just from the Deficit viewpoint.
This to me is the single MOST IMPORTANT aspect of the Overall Budget that I'm extremely dissappointed.
I sincerely hope that future Budgets will aim to reduce the Deficit, because if not, I fear for the future of Malaysia.
Seng.
PS. It is very obvious to me that the opportunities for corruption and mismanagement has increased considerably with the higher OE and DE figures.
We must pay closer attention to how these monies are proposed to be spent.
We must demand greater transparency.
For example, I'm extremely concerned with the RM 18 Billion contract which seems to be tilted to favor Tengku Adnan's Sdn Bhd company. How much of the RM 18 Billion will be borne by taxpayers? I have very serious concerns with this proposal.
The next Finance Minister should preferably a Hokkien Chinese from Penang, because they are the most "kiam-siap" people in the whole of M'sia.
M'sia finance will be tightly controlled by then.
In spite of some positive indicators in the first quarter of 2008, where Malaysia's GDP grew at a commendable 6.7% with the second quarter raking in an extremely healthy trade surplus of RM40 billion, the 2009 Budget had failed to offer anything out of the ordinary to address the major structural weaknesses of the Malaysian economy. Critically, the government had no revenue driven measures to tackle the rising budget deficit and achieve the stated objective of economic growth with low inflation. Read more at http://wwwmalaysiapoliticscom.blogspot.com/
we actually need ppl who are totally reliable to think and revise back the systems and economics structure in malaysia.malaysia has been too messy with political problems that we often overlooked other important issues such as what happens to our economics.it is normal in a business cycle to have a recession but somehow,measures to reduce the effects are not quite strong.problems are here and there but often the political problems took over the attention.some politicians fight for status rather than the rights of the ppl.i personally think that if the core problems are not being solved 1st,other issues will keep on arising.
Cheer up... at least Malaysia get >100% improvement in something from 1995 till 2008, pace is not slowing down yet.
World wide Corruption Perceptions Index, we improve from rank 23 to 47.
It is 104% growth in number.
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