Federal Govt Budget 2022 proposals involves allocation of RM332.1bil, largest ever for the country, exceeds Budget 2021's allocation of RM322.54bil.

       This involves RM233.5bil in administrative expenses, RM75.6bil in development, RM23bil for the Covid-19 fund and RM2bil for unexpected expenses.

       RM2bil is provided as contingency savings.

       Fiscal deficit for 2022 is projected to shrink to 6% of GDP from 6.5% in 2021.

       The budget’s amount, equivalent to 20.3% of the gross domestic product (GDP), is nearly 3% larger than the RM322.5bil announced for Budget 2021.

       This can be implemented based on an estimated increase in government revenue for 2022 to RM234bil.

       Of the budget allocation, 70.3% or RM233.5bil is for operating expenditure (OE), followed by RM75.6bil (22.8%) for development expenditure (DE) and the balance of RM23bil for the Covid-19 Fund

       More to come