On the government's fiscal position for the Financial Year 2021/2022. Government revenue collection increased by 132.5 percent to $4.77 Billion compared to Financial Year 2020/2021 following the increase in global oil prices in 2021 on average at more than US$70 a barrel. At the same time, the government's actual expenditure also increased 9.2 percent to $5.78 Billion compared to Financial Year 2020/2021. The Minister at the Prime Minister's Office and Second Minister of Finance and Economy explained that the government has recorded a deficit of 1.01 Billion for the Financial Year 2021/2022.

Yang Berhormat said that in terms of the updated government fiscal position for Financial Year 2022/2023, following the increase in global oil prices, the projected government revenue for the Financial Year 2022/2023 has been updated to $6 Billion. While government expenditure for Financial Year 2022/2023 is projected at 5.9 Billion compared to 5.7 Billion allocated for the Financial Year 2022/2023.

Source:
RTB NEWS

by RTB NEWS

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