Budget 2022: RM233.5b estimated for operational costs; 11 years on 1MDB debt still at RM39b
KUALA LUMPUR, Oct 29 — Budget 2022, as announced by the Ministry of Finance today, is worth RM332.1 billion in estimated spending, with RM233.5 billion or 70 per cent of which has been designated for operating expenditure .
Grants and transfers to state governments are expected to cost RM7.9 billion, while grants to statutory bodies are estimated to amount to RM14 billion. Another RM17.3 billion has been allocated for subsidies and social assistance, RM533 million for government asset acquisitions, RM375 million allocated for refunds and write-offs, and RM5.2 billion listed as “others”.
From the RM25.1 billion allocated for the security sector, RM11 billion is estimated to be set aside for defence purposes, and RM14 billion for internal security. Other economic DE allocations include RM3.2 billion for the energy and public utilities sector which MoF says is directed towards providing the rakyat with better access to electricity and water, telecommunications, and sewerage services.
A bulk, or RM12 billion, is estimated to be spent on education and training initiatives, including those for Technical and Vocational Education and Training programmes, research grants, and the construction and expansion of educational institutions. As for DE in the security sector, RM9 billion is set to be allocated for enhancements to existing network systems, the upgrading of military assets and security equipment, upkeep of other infrastructure projects, and upgrades to prisons.
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