BY KENNETH TEE
According to the MoF’s Fiscal Outlook and Federal Government Revenue Estimates 2020 report, the ministry said despite the slight increase, the deficit target remained on a consolidation path. It added that the allocation will be mainly channelled to accelerate the implementation of transportation and connectivity projects such as the Pan Borneo Highway, Mass Rapid Transit 2 and the Gemas-Johor Baru Electrified Double Track Project.
“Given the pre-emptive measures, the overall deficit in 2020 is expected to be lower at 3.2 per cent of GDP with fiscal consolidation remaining on its trajectory and the debt position at a manageable level,” it added. “Emoluments remain the largest component of OE and estimated to grow to RM82.6 billion, predominantly due to annual salary increment,” it said.
On the 2019 performance, the report said the fiscal deficit was expected to remain at 3.4 per cent of GDP as originally targeted in Budget 2019.
Source: News Formal (newsformal.com)
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