PUTRAJAYA: The Inland Revenue Board recorded RM183 billion in tax collections last year.
Prime Minister Datuk Seri Anwar Ibrahim said out of the RM238 billion in government revenue, RM55 billion was derived from the Customs Department.
"We managed to reach the target. The Customs Department managed to collect higher than the set revenue target.
"Meanwhile, last year's economic indicators were positive and encouraging, with a gross domestic product (GDP) rate of 3.9 per cent in the first three quarters of last year, in tandem with the targeted 4 per cent for 2023," he said at the Finance Ministry's monthly assembly today.
He said the inflation rate dropped from 4 per cent in November 2022 to 1.5 in November last year.
The country also attracted almost RM350 billion in investment commitments approved within the first nine months of last year, a 6.6 per cent increase compared to the same period for 2022, he said.
"However, as I've mentioned before, don't be fazed by numbers.
"I'm not saying that the statistics lie; they can be maintained, but (at the same time) in other aspects, we still see prices (of goods) soaring."
He said the government could not continue with allocating overall annual subsidies of RM80 billion, which he said would also benefit some 3.5 million foreigners and the rich.
With the savings made through the implementation of targeted subsidies, the government would be able to channel more cash aid to those in need through Sumbangan Tunai Rahmah and e-Madani, among others, he said.