KUALA LUMPUR: The federal government needs to pay attention to the rising trend of federal liabilities, which consist of federal debt and financial liabilities as federal liabilities rose by RM92.038 billion (6.6 per cent) last year (2023) compared with 2022.
This was according to the Auditor General's Report 3/2023 on the federal government's Financial Statements for 2023, presented in the Dewan Rakyat today.
The ratio of federal liabilities to gross domestic product (GDP) also increased from 78.0 per cent in 2022 to 81.8 per cent last year.
Malaysia's federal debt last year stood at RM1.172.509 trillion, compared with RM1.079.591 trillion in 2022, an increase of RM92.918 billion, or 8.6 per cent. The federal debt to GDP ratio in 2023 was 64.3 per cent, compared with 60.2 per cent in 2022.
The financial liabilities stood at RM319.262 billion in 2023 and RM320.142 in 2022, a reduction of 0.3 per cent.
The total revenue of the federal government last year was RM316.469 billion, which showed an increase of RM20.705 billion or seven per cent compared with 2022 (RM295.764 billion).
As of last year, the federal government's investment position stood at RM42.159 billion, an increase of RM7.006 billion (19.9 per cent) compared with RM35.153 billion in 2022.
The revenue collection stood at RM314.959 billion last year, an increase of RM20.602 billion (7.0 per cent) compared with 2022.
Tax revenue collection amounted to RM229.185 billion recorded last year, an increase of RM20.420 billion (9.8 per cent) compared with 2022.