Supplementary budget of RM19.6b won’t affect 3.7% fiscal target: Lim

Finance Minister Lim Guan Eng today said the supplementary budget of RM19.6 billion will not affect the government’s fiscal target of 3.7% for 2018, as it was part of the real expenditure for the year.

“As explained, RM6.3 billion is the previous government’s commitment that had not been provided an allocation and RM4.3 billion is for repayment of off-balance sheet items borrowed by the previous administration. Besides the reclassification, he said RM1.9 billion was allocated for the transfer of surplus to Kumpulan Wang Pembangunan.

He explained that due to the increase in expenditure, RM6 billion needed to be allocated to meet the expenditure commitments made by the previous government that were not budgeted for. “The previous government also did not provide adequate allocation for operating expenditure despite there being contractual payments for services such as RM0.5 billion for hospital support services, RM0.3 billion for schools cleanup and security contracts, and RM100 million for the maintenance contract for Royal Malaysian Air Force aircraft,” he added.

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