KUALA LUMPUR, July 27 — The Federal government’s total expenditure stood at RM86.7 billion in the first quarter of 2022 (Q1 2022), according to the Finance Ministry (MoF).
Of this, it spent RM22 billion for emolument payments, RM9.1 billion for debt service payments, and RM8.4 billion for pension payments (RM8.4 billion), the ministry said.
In addition, RM11.5 billion went towards subsidies, aid and incentives including subsidies for petrol, diesel and liquefied petroleum gas (cooking oil) as well as the Bantuan Keluarga Malaysia phase 1 payout, the MoF said in a written parliamentary reply today.
It was responding to a query from Datuk Seri Saifuddin Nasution Ismail (PH-Kulim-Bandar Bharu) on the government’s current financial capability to carry out debt payments, subsidies, and emolument and pension payments. He also wanted to know the total value of these commitments in Q1 2022.
The MoF said the payments of debts, retirement benefits and emoluments are “locked in” compared with other expenditure components.
Therefore, it added, the government always ensures that its finances are strong in order to be able to fulfill its commitments. — AFP
