Friday March 31, 2006
Surplus set to increase to RM10.6b in 2010
THE consolidated public sector account is expected to register an overall surplus of RM79.1bil or 2.5% to the gross domestic product (GDP) during the 9MP period.
The size of the surplus is expected to increase from RM7bil or 1.4% to GDP in 2005 to RM10.6bil or 1.5% to GDP in 2010.
The development expenditure of the public sector is expected to increase from RM70.9bil in 2005 to RM89.7bil in 2010.
The overall Government fiscal deficit is expected to be RM107.6bil or 3.4% to GDP in the 9MP period, lower than the 4.8% to GDP in the 8MP period. The deficit is expected to reduce gradually from 3.8% to GDP in 2005 to 3.4% to GDP in 2010.
Domestic borrowings will be utilised to finance the deficit. In managing the fiscal deficit, focus will be on enhancing the revenue base as well as improving the efficiency and effectiveness of Government expenditure.
Total Government revenue is expected to grow at an average rate of 7.4% per annum during the 9MP period from RM106.3bil in 2005 to RM152.1bil in 2010. Measures will be implemented to enhance the tax administration system through improving the capacity of tax collection agencies.
Efforts will also be taken to review the tax structure and system with a view to broadening the tax base.
Tax revenue is expected to increase at 6.7% per year from RM80.6bil in 2005 to RM111.7bil in 2010.
Non-tax revenue including dividends from Petronas and government-linked companies is expected to increase at an average rate of 9.4% per annum from RM25bil in 2005 to RM39.3bil in 2010.
News Poll
- Court ruling takes bite out of local council summonses
- Teoh's second autopsy completed, reburied Tuesday (Update)
- Chin Peng apologises for death of innocents
- Girl and stepmum held over bid to kill first wife
- Biggest karaoke session a blast
- New evidence on MCA snoop squad case arrives at doorstep
- Victim’s dad nabs kidnapper
- Teoh’s body exhumed for second autopsy today
- Foreigner falls to her death from condominium
- Malaysians must get regular dental checks
- Court ruling takes bite out of local council summonses
- Chin Peng apologises for death of innocents
- Malaysians must get regular dental checks
- Interpol bust online illegal pharmacy racket
- Big impact in ‘small’ man’s win
- Teoh's second autopsy completed, reburied Tuesday (Update)
- No licence to try offenders
- New evidence on MCA snoop squad case arrives at doorstep
- Stop blanket approval for outsourcing, says union
- Johor set to be a medical hub
RSS
