ID :
17457
Sat, 08/30/2008 - 10:44
Auther :
Shortlink :
http://m.oananews.org//node/17457
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FED GOVT'S EXPENDITURE TO JUMP BY 4.4 PCT TO RM205.899 BLN
KUALA LUMPUR, Aug 29 (Bernama) -- The federal government's expenditure in 2009 is expected to jump by 4.4 percent to RM205.899 billion from RM197.211 billion in 2008, says the Finance Ministry.
The operating expenditure is expected to increase by 2.1 percent to
RM154.170 billion, while development expenditure 11.8 percent to RM51.729 billion, it said in the 2008/2009 Economic Report.
Operating expenditure, it said, accounted for 74.9 percent of total
expenditure and the bulk of it is for locked-in and charged items such as
emoluments, debt service charges, pension and gratuities.
"Fiscal policy will continue to remain prudent, effective and efficient to
support economic growth," it said.
Budget deficit in 2009 is expected to decline to 3.6 percent from 4.8
percent in 2008.
It said given the the impact of high price of fuel, food and other
commodities as well as constructed related materials, the government will
provide subsidy payments, including food security, social assistance and welfare
programmes as well as ensure timely implementation of development
projects.
A total of RM26.488 billion or an increase of 2.3 percent will be allocated
for supplies and services to ensure proper maintenance of public assets and
improve the quality of public services.
An allocation of RM86.328 billion will also be provided for grants,
transfer
and fixed charges including subsidies and contributions to statutory bodies and
state governments.
Total payments for subsidies are expected to remain high at RM33.799
billion
or 21.9 percent of operating expenditure, it said.
Subsidies will be allocated mainly for fuel amounting to RM21 billion,
interest rate differentials, including loans for higher education (RM978
million), padi-related schemes (RM1.16 billion), as well as cash rebates for
private vehicle owners till March 2009 (RM2 billion).
As of Aug 21, 2008, Pos Malaysia Bhd disbursed RM1.6 billion to 3.7 million
registered vehicle owners, it said.
In addition, an allocation of RM1.2 billion will be provided to subsidise
the retail price of cooking oil.
"The government will continue to ensure adequate supplies of essential
goods
nationwide and monitor their prices to prevent hoarding, smuggling and
profiteering," it added. US$1=RM3.39
-- BERNAMA
The operating expenditure is expected to increase by 2.1 percent to
RM154.170 billion, while development expenditure 11.8 percent to RM51.729 billion, it said in the 2008/2009 Economic Report.
Operating expenditure, it said, accounted for 74.9 percent of total
expenditure and the bulk of it is for locked-in and charged items such as
emoluments, debt service charges, pension and gratuities.
"Fiscal policy will continue to remain prudent, effective and efficient to
support economic growth," it said.
Budget deficit in 2009 is expected to decline to 3.6 percent from 4.8
percent in 2008.
It said given the the impact of high price of fuel, food and other
commodities as well as constructed related materials, the government will
provide subsidy payments, including food security, social assistance and welfare
programmes as well as ensure timely implementation of development
projects.
A total of RM26.488 billion or an increase of 2.3 percent will be allocated
for supplies and services to ensure proper maintenance of public assets and
improve the quality of public services.
An allocation of RM86.328 billion will also be provided for grants,
transfer
and fixed charges including subsidies and contributions to statutory bodies and
state governments.
Total payments for subsidies are expected to remain high at RM33.799
billion
or 21.9 percent of operating expenditure, it said.
Subsidies will be allocated mainly for fuel amounting to RM21 billion,
interest rate differentials, including loans for higher education (RM978
million), padi-related schemes (RM1.16 billion), as well as cash rebates for
private vehicle owners till March 2009 (RM2 billion).
As of Aug 21, 2008, Pos Malaysia Bhd disbursed RM1.6 billion to 3.7 million
registered vehicle owners, it said.
In addition, an allocation of RM1.2 billion will be provided to subsidise
the retail price of cooking oil.
"The government will continue to ensure adequate supplies of essential
goods
nationwide and monitor their prices to prevent hoarding, smuggling and
profiteering," it added. US$1=RM3.39
-- BERNAMA
