KUALA LUMPUR: The federal government showed an improved financial performance in 2023 than the previous year, based on an increase in revenue surplus amounting to RM2.028 billion, according to the 2024 Auditor General's Report Series 3 (LKAN 3/2024).
Auditor-General Datuk Wan Suraya Wan Mohd Radzi, in a statement, said the deficit last year decreased by RM8.595 billion, leading to a reduction in the deficit-to-gross domestic product (GDP) ratio to 5.0 per cent, down from 5.5 per cent in 2022.
"The deficit balance of the development fund stands at RM10.217 billion, reflecting a decrease of RM1.734 billion (14.5 per cent) compared to RM11.951 billion in 2022.
"However, the government must pay attention to the rising trend in federal liabilities, which include federal debt and financial liabilities, increasing by RM92.038 billion (6.6 per cent) to RM1.492 trillion, compared to RM1.400 trillion in 2022.
"Additionally, the federal government's guaranteed commitments in 2023 for 13 companies rose by RM3.288 billion (1.5 per cent) compared to RM224.116 billion in 2022," she said, adding the dividends received by the government significantly decreased by RM9.756 billion (17.5 per cent) from RM55.815 billion in 2022.
Regarding the federal government's financial statement for the year ending Dec 31 last year, Wan Suraya said it accurately reflects the federal government's financial position.
"The financial statement received the Auditor General's Certificate with an unmodified opinion and other matters."
Wan Suraya added the government should reduce fiscal deficit and dependence on new loans by improving revenue collection efficiency, implementing targeted spending that offers value for money and strengthening the governance of financial management in government-owned companies.
The LKAN 3/2024 Series 3 was tabled in Dewan Rakyat today with the consent of His Majesty Sultan Ibrahim, King of Malaysia.
This LKAN focuses on two issues; the performance report on the implementation of development projects under the 3rd Rolling Plan of the 12th Malaysia Plan (12MP) up to Dec 31 last year and the key audit area, concerning material and significant matters that impact the financial performance of the federal government in 2023.
The LKAN 2023 Series 1 was tabled in Dewan Rakyat on March 6, while Series 2 on July 4.
The public can view it at https://www.audit.gov.my from today at 10am.