THE government is committed to lowering Malaysia’s fiscal deficit further to 3.8% this year after reducing it to 4.1% in 2024.
Finance Minister II Datuk Seri Amir Hamzah Azizan (pic) said the growth of Malaysia’s annual debt has also been on a downtrend, from RM100bil in 2022 to RM92.6bil in 2023 and RM77bil last year.
He said the government is on track to reducing the debt to not more than 60% of gross domestic product.
During the sitting, the Dewan Rakyat approved the Supplementary Supply (2024) Bill 2025 involving the withdrawal of a sum of money not exceeding RM20,191,299,500 from the Consolidated Fund for additional expenses for services in 2024.
The Bill was approved with a voice vote after it was debated by backbenchers and Opposition MPs yesterday.
The law was tabled for first reading in the Dewan Rakyat on Tuesday by Amir Hamzah.
The supplementary expenditure were sought for the use of the Treasury’s General Services amounting to RM12,624,721,830, allocations to the Statutory Fund (RM3,151,419,300), the Education Ministry (RM1,763,672,170), the Public Service Department (RM1,148,146,080), and the Domestic Trade and Cost of Living Ministry (RM1,077,146,050).
The allocations also include the Higher Education Ministry’s RM417,999,870 and the Election Commission (RM8,194,200).
