Malaysia’s 2017 budget deficit at 3% of GDP as revenue rises

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KUALA LUMPUR (Aug 6): Govt’s budget deficit was RM40.3b, equivalent to 3% of GDP, last year, National Audit Department says in report released on website.

* Revenue rises 3.8% to RM220.4b in 2017, from RM212.4b in 2016

** Tax revenue rises 4.9% to RM177.7b in 2017, with import taxes, petroleum income tax and personal income tax being the main contributors

* Operating expenditure for 2017 exceeded budget allocation by 0.5%, at RM217.7b, compared with the RM216.7b allocated

** Development expenditure for last year was RM44.9b, or 99% of total allocated