Budget surplus revised by $10.8b?

July 6, 2014

Budget cash surplus $25.3b?

According to Department of Statistics’ Monthly Digest of Statistics, June 2014 – the Budget cash surplus for FY2012 was $25.3 billion.

Revised downwards from $36.1b?

This is we believe a downward revision from the figure of $36.1 billion that was shown in the Monthly Digest of Statistics of about a year ago (which we can no longer find on the Internet).

Why took so long?

Although there is a footnote explaining that the figure has been revised in accordance with the International Monetary Fund’s (IMF) fiscal reporting guidelines of 2006 versus the 2001 guidelines – why did it take so long to do the revision until only now?

Budget statement surplus $3.9b?

The above are of course a far cry from the $3.9 billion Budget surplus reported in the Budget statement.

S Y Lee and Leong Sze Hian

About the Author

Leong

Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional qualifications.