2015 Malaysian federal budget

2015 (2015) Budget of the Malaysian Federal Government
Supply Bill 2015
Presented 10 October 2014
Parliament 13th
Party Barisan Nasional
Finance Minister Najib Razak
Treasurer Ministry of Finance
Total revenue MYR235.2 billion
Total expenditures MYR273.9 billion
Program Spending MYR50.5 billion
Debt payment MYR24.4 billion
Deficit MYR35.7 billion
(3.0% of GDP)
Debt MYR568.9 billion
(52.8% of GDP)
GDP MYR876.4 billion
(5.0-6.0%)
Website www.najibrazak.com/bajet2015/
2014
2016

The Malaysian federal budget for 2015 fiscal year was presented to the Dewan Rakyat by Prime Minister and Minister of Finance, Najib Razak on Friday, 10 October 2014.

Summary

Following are the highlights of the 2015 Budget themed, “BUDGET 2015: PEOPLE ECONOMY”, which was tabled by Prime Minister Najib Razak in Parliament.

Total revenues and spending

Revenues

Revenue estimates for 2016 Budget, excluding 2016 tax measures

  Companies income tax (30.9%)
  Interests and proceeds from investments (13.3%)
  Individual income tax (11.3%)
  Petroleum income tax (10.9%)
  Goods and services tax (9.2%)
  Excise duties (5.8%)
  Licenses, registration fees and permits (5.6%)
  Stamp duty (3.1%)
  Sales tax (1.2%)

Official sources

(In million MYR)

Source Projected Revenues % of
Total Projected Revenues
Actual Revenues
Direct tax
Income tax
Companies
Individual
Petroleum
Withholding
Co-operatives
Others
Other direct taxes
Stamp duty
Real property gains tax
Others
135,646
127,405
72,589
26,553
25,600
2,276
364
23
8,241
7,252
897
92
57.7%
54.2%
30.9%
11.3%
10.9%
1.0%
0.2%
0.0%
3.5%
3.1%
0.4%
0.0%
Indirect tax
Goods and services tax
Excise duties
Sales tax
Other indirect taxes
Import tax
Export tax
Services tax
Levies
47,732
21,720
13,717
2,734
2,677
2,629
2,231
1,874
150
20.3%
9.2%
5.8%
1.2%
1.1%
1.1%
0.9%
0.8%
0.1%
Non-tax revenue
Interests and proceeds from investments
Licenses, registration fees and permits
Other non-tax revenue
Service fees
Fines and penalties
Proceeds from sales of goods
Rentals
49,813
31,193
13,143
2,213
1,304
1,136
574
250
21.2%
13.3%
5.6%
0.9%
0.6%
0.5%
0.2%
0.1%
Non-revenue receipts 1,251 0.5%
Federal territories revenue 777 0.3%
Grand Total Revenue 235,219

Expenditures by object

Official sources

These tables are in million MYR.

Description Projected
Expenditures
Actual
Expenditures
Operating expenditures
Emoluments 65,651.7
Supplies and services 38,098.8
Assets 1,456.8
Fixed Charges and Grants 116,417.6
Other Expenditures 1,815.1
Total Operating Expenditure 223,440.0
Development expenditures
Direct Grant 45,614.3
Loans 2,885.7
Contingencies Reserve 2,000.0
Total Development Expenditure 50,500.0
Grand Total Expenditure 273,940.0

Expenditures by budget function

Official sources

These tables are in million MYR. The budget for the 2015 fiscal year (also demonstrating the basic budget structure) can be found below.[1]

Function Description Projected Actual
Expenditures Operating
Expenditures
Development
Expenditures
Expenditures
1 Parliament 89.1 89.1 N/A
2 Office of the Keeper of the Rulers' Seal 2.3 2.3 N/A
3 National Audit Department 164.7 164.7 N/A
4 Election Commission 73.9 73.9 N/A
5 Public Services Commission 50.6 50.6 N/A
6 Prime Minister's Department 19,060.0 6,025.2 13,034.8
7 Public Service Department 2,710.7 2,670.1 40.5
8 Attorney General Chambers 202.2 202.2 N/A
9 Malaysian Anti-Corruption Commission 294.3 294.3 N/A
10 Treasury 4,376.8 3,427.3 949.5
11 Treasury General Services 32,815.8 32,815.8 N/A
12 Contribution to Statutory Funds 2,053.8 2,053.8 N/A
13 Ministry of Foreign Affairs 916.9 761.8 155.1
20 Ministry of Plantation Industries and Commodities 1,658.8 1,237.8 421.0
21 Ministry of Agriculture and Agro-based Industry 6,065.0 4,284.3 1,780.8
22 Ministry of Rural and Regional Development 10,507.8 5,982.3 4,525.5
23 Ministry of Natural Resources and Environment 2,686.1 1,101.9 1,584.2
24 Ministry of International Trade and Industry 1,302.6 586.7 716.0
25 Ministry of Domestic Trade, Co-operatives and Consumerism 979.0 947.0 32.0
27 Ministry of Works 5,950.8 2,112.6 3,838.2
28 Ministry of Transport 4,603.0 1,256.2 3,346.8
29 Ministry of Energy, Green Technology and Water 2,866.5 281.0 2,585.6
30 Ministry of Science, Technology and Innovation 1,337.6 727.1 610.6
31 Ministry of Tourism and Culture 1,505.2 1,187.6 317.6
32 Ministry of the Federal Territories 1,137.4 427.4 710.0
40 Education Service Commission 16.6 16.6 N/A
42 Ministry of Health 23,311.9 21,714.2 1,597.7
43 Ministry of Urban Wellbeing, Housing and Local Government 4,571.6 2,556.5 2,015.1
45 Ministry of Youth and Sports 949.9 534.8 415.1
46 Ministry of Human Resources 1,395.8 801.8 594.0
47 Ministry of Communications and Multimedia 1,737.8 1,385.1 352.7
48 Ministry of Women, Family and Community Development 2,247.2 2,044.6 202.6
60 Ministry of Defence 17,763.0 14,144.8 3,618.2
62 Ministry of Home Affairs 13,393.7 12,611.2 782.5
63 Ministry of Education 40,838.3 39,211.4 1,636.9
64 Ministry of Higher Education 15,784.8 13,147.6 2,637.2
70 Contingency fund 2,000.0 N/A 2,000.0
Total Functional Expenditure 230,431.7 179,931.7 50,500.0
Dependent Description Projected Actual
Expenditures Operating
Expenditures
Development
Expenditures
Expenditures
(1) Royal spending for the Yang di-Pertuan Agong 13.5 13.5 N/A
(2) Royal allowances 1.8 1.8
(3) Chief Justice, Chief Judges, Judges 90 90
(4) Auditor General 1.3 1.3
(5) Speaker of the Dewan Rakyat 1.3 1.3
(6) President of the Dewan Negara 1.3 1.3
(7) Election Commission 1.4 1.4
(8) Law Services Commission 0.05 0.05
(9) Public Services Commission 10.7 10.7
(10) Education Services Commission 3.9 3.9
(11) Police Force Commission 1.5 1.5
(12) Treasury 6,072.1 6,302.3
(13) Payment for public debt 24,379.3 24,379.3
(14) Pensions, retirement allowances and rewards 15,700.0 15,700.0
Total Dependent Expenditure 46,508.3 46,508.3 N/A
Grand Total Expenditure 273,940.0

Supplementary supply bill

On 23 March 2015, the Government tabled a supplementary supply bill to augment its Budget 2015 by an additional RM2.2 billion, some two months after the prime minister revised this. The Bill was tabled for the first reading after question time today by Deputy Finance Minister Chua Tee Yong. The bulk of the requested amount — RM1.2 billion — will be channelled to the Treasury’s consolidated fund, while the Education Ministry will be allocated with RM428 million. The Public Services Department will receive RM287 million and the Health Ministry, RM200 million. The Federal Territories Ministry and the Home Ministry will respectively get RM34 million and RM26 million. The Dewan Rakyat approved the Supplementary Supply Bill (2014) 2015 after it was debated at the committee level on 1 April 2015. The bill allocated a supplementary financial allocation of RM2,223,520,310 to several ministries as additional management expenditure for services.[2][3]

Last year, Prime Minister Datuk Seri Najib Razak tabled a budget of RM273.9 billion, an increase of RM9.8 billion from 2014. He revised this in January following a sharp drop in global crude oil price and the devastating flood that ravaged the east coast states in the country. Despite announcing cuts to operating expenditure that could trim RM5.5 billion from government spending, Najib maintained that allocations for development totalling RM48.5 billion will be maintained.[4]

References

External links

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