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aws试用账号(www.2km.me)_Economic Highlights for 2021 and 2022

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Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz is tabling Budget 2022 in the Dewan Rakyat here at 4pm today

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz is tabling Budget 2022 in the Dewan Rakyat here at 4pm today.

Here are some of the highlights from the Economic Outlook 2022 report.

Federal Government revenue

Federal Government's revenue collection in 2022 is estimated to be higher at RM234bil or 14.3% to GDP.

Total expenditure slightly higher at RM332.1bil or 20.3% to GDP, attributed to operating expenditure at RM233.5bil and development expenditure at RM75.6bil.

Development expenditure will be part of 12the MP, among others include the Electrified Double Track Rail Gemas - Johor Bahru, Rapid Transit System Link and Pan Borneo Highway.

The fiscal deficit is expected to moderate to 6% to GDP.

Government drawing up Fiscal Responsibility Act (FRA) to strengthen governance, accountability and transparency in fiscal management.

Continuation of the packages to combat the Covid-19 will have spillover effects and boost the economy in 2022.

GDP at purchasers' price contracted 5.6% in 2020 to RM1,343bil is forecast to be expand between 3% and 4% this year to RM1,391bil and is forecast to rebound between 5.5% and 6.5% in 2022 to RM1,474bil.

GDP by kind of economic activity at constant 2015 prices:

GDP to rebound from -5.6% contraction in 2020 to expand 3% to 4% in 2021 and grow 5.5% to 6.5% in 2022.

Agriculture in 2020 shrank -2.2% and see slower contraction of -0.8% in 2021 and is set to rebound to see a 3.9% growth next year.

Mining and quarrying fell 10.6% in 2020 and to recover to see a 1.5% growth in 2021 but it is expected to taper off to minus 0.3% in 2022.

Manufacturing shrank -2.6% in 2020 due to the MCO implementation and SOPs. However, it is expected to grow by 8.1% this year, underpinned by strong export-related industry. However due to the higher base, it is expected to expand 4.7% next year.

Construction contracted 19.4% in 2020 due to MCO. However, it is expected to see a smaller contraction of 0.8% this year and rebounding 11.5% in 2022.

Services shrank 5.5% in 2020 but it is set to expand 2.6% in 2021 and expected to pick up with a 7% growth in 2022.

Other economic data

GDP per capita is forecast to be US$11,124.7 and improving to US$12,295.7 next year.

Consumer price index is estimated to be 2.4% this year and slowing down to 2.1% next year.

Unemployment rate is expected to be 4.6% to 4.8% this year and forecast to decline to 4% next year.

Current account balance is estimated to be US$14.1bil in 2021 and improve to US$15.6bil in 2022.

Gross international reserves are expected at US$115.2bil this year.

• Current prices - Gross national income (GNI) by demand aggregates

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