Treasury secretary-general Irwan Serigar Abdullah has denied that the country's fiscal deficit had widened between January and May this year.

"Don't play with the issue that the fiscal deficit (had) widened and so on. (This) is all baseless argumentation.

"We look at the whole year. Wait for December, the figures will show you," he told reporters on the sidelines of the Finance Ministry's Hari Raya celebrations today.

He was responding to a report by The Edge on Friday which quoted Citi Research as saying that the country’s fiscal deficit widened to RM30.5 billion for the first five months of the year compared with RM26 billion in the previous corresponding period.

This had followed a recent surge in public spending.

Irwan, however, explained that the country's deficit can only be determined at the end of the year.

"We have already estimated the revenue in a one-year calculation. For example, the dividends that come in and at which month.

"It may come in June or July and so on. And we also go to the market to raise bonds.

"So, some revenue might be less in (certain months). We cannot use that as fiscal deficit for the whole year. We calculate yearly fiscal deficit, which is at three percent (and) it stays," he said.

He also highlighted the country's inflation rate, which had decreased from 4.4 percent in April to 3.9 percent in May this year, as well as the strengthening of Bank Negara's international reserves.

"So, the economy looks good and we're going to have a good budget this year."

Also denying that the country's revenue was lower this year, Irwan pointed out how the Inland Revenue Board (LHDN) had so far collected almost RM55 billion already.

"I'm monitoring everyday. Also dividends coming in and so on. The government also has other revenue (to) get income.

"We also sold some land. We have other monetisations of government assets, so revenue is still intact.

"In fact, we are having more revenue. So, that's why I say this year's budget may be a good budget for the country," Irwan said.

Budget 2017 had a total allocation of RM260.8 billion excluding RM2 billion for contingencies.

Prime Minister Najib Abdul Razak had announced that the government aimed to collect RM219.7 billion in revenue and three percent of the gross domestic product (GDP) for its fiscal deficit target this year.