KUALA LUMPUR: The Finance Ministry recorded the highest share of government expenditure at RM129.637 billion, representing 41.2 per cent of the overall RM314.959 billion.
According to the 2024 Auditor General's Report Series 3 (LKAN 3/2024) published today, this expenditure increased by RM9.463 billion (7.9 per cent) compared with RM120.174 billion in 2022.
The report added that the main increase in spending was due to subsidy and cash aid programmes, which totalled RM54.631 billion, an increase of RM8.123 billion (17.5 per cent) compared with RM46.508 billion in 2022.
"Subsidy expenditure charged to the operating vote in 2023 amounted to RM49.190 billion, a decrease of RM6.253 billion (11.3 per cent) compared with RM55.443 billion in 2022," the report said.
The report added that the highest subsidy expenditure was for petroleum products, totalling RM34.546 billion (70.2 per cent) of the total subsidy spending.
"Petrol products recorded subsidy expenditure of RM18.317 billion, followed by diesel at RM13.512 billion and liquefied petroleum gas (LPG) at RM2.717 billion.
"The expenditure covered petrol, diesel and LPG supplied by 16 producers for claims from January to November 2023," it added.
It also said the expenditure saw a decrease of RM10.638 billion (23.5 per cent) compared with RM45.184 billion in 2022, driven by the lower average price of petroleum products, which stood at US$82.60 per barrel in the global market compared with US$99.80 in 2022.