Malaysian Govt clarifies additional RM5.99b budget funds

KUALA LUMPUR (March 24): The Finance Ministry (MOF) clarified that the supplementary supply bill tabled in Parliament last Tuesday was for Malaysia’s Budget 2015.

In a statement today, the MOF said the supplementary supply bill was not for Budget 2016.

“MOF would like to stress that this is not an additional expenditure to the 2016 Budget and has no link to the recalibrated 2016 Budget which was announced by the prime minister in January this year.

“The supplementary supply bill (2015) 2016 and the supplementary development resolution 2015 are not new but for expenditure incurred in the year 2015 and not in the year 2016 as claimed by certain press organisations. It is a part of the actual 2015 expenditure,” the MOF said.

Last Tuesday, the Government tabled the bill at Parliament to seek approval for an additional RM5.99 billion under Budget 2015.

Deputy Finance Minister Datuk Chua Tee Yong tabled the bill at Parliament. Since Prime Minister Datuk Seri Najib Tun Razak took office in 2009, supplementary supply bills were tabled to seek the Parliament’s endorsement for the additional sum that has been spent in a budget.

Today, the MOF said the additional 2015 expenditure included  pensions, operating expenses of various ministries and funds earmarked for rebuilding and repair of public infrastructures.

According to the MOF, the additional expenditure involved the transfer of RM2.1 bilion from the consolidated revenue account to the development fund.

“However, this is not a new expenditure but is part of the development expenditure for 2015.

“Despite the additional expenditure, the Government is committed to fiscal consolidation and the fiscal deficit remains at 3.2% for 2015 and 3.1% for 2016,” the MOF said.