Fiscal deficit higher at 3.2% for 2020, to average 2.8% over 3-year period

11 Oct 2019 / 16:10 H.

• The 2020 deficit target of 3.2% of GDP is slightly higher than the 3% originally announced in Budget 2019, but remains on a consolidation path.

• Fiscal deficit is expected to remain at 3.4% of GDP for 2019.

• The Medium-Term Fiscal Framework 2020-2022 has been adopted as a tool for medium-term fiscal planning.

• Total revenue is forecast at RM764.9 billion (15% of GDP).

• Non-petroleum revenue is expected to contribute RM615.7 billion (12.1% of GDP).

• Petroleum-related revenue is projected at RM149.2 billion (2.9% of GDP).

• Total indicative ceiling for expenditure is estimated at RM910.4 billion (17.8% of GDP).

• Operating expenditure allocation RM751.4 billion (14.7% of GDP).

• Development expenditure allocation RM159 billion (3.1% of GDP).

• Fiscal deficit targeted to average 2.8% of GDP over three-year period.

email blast