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Terengganu's 2018 financial performance not stable - audit report

The financial performance of the Terengganu government is not stable.

The Auditor-General’s report on the state government’s financial statement and the financial performances of the state agencies for 2018, said that overall, the balance of the Consolidated Fund at the end of 2018, had dropped by RM9.08 million to RM154.67 million, compared to RM163.75 million in 2017.

‘’The Consolidated Revenue Fund account shows a current deficit of RM80.24 million. With this, the balance of the Consolidated Revenue Fund account at the end of 2018 experienced a deficit of RM2.61 million, compared to a surplus of RM77.63 million at the end of 2017,’’ said the Auditor-General Nik Azman Nik Abdul Majid (above).

Nik Azman, in the report, also mentioned a revenue collection drop of RM280.34 million or 13.5 percent - RM1.79 billion compared to RM2.07 billion in 2017.

He said management expenditure (before transferring to the Development Fund) in 2018, amounting to RM1.248 billion, dropped RM85.30 million or 6.4 percent, compared to RM1.333 billion in 2017. He also said the total public debts dropped by RM173.8 million or 19.2 percent to RM733.1 million compared to RM906.9 million in 2017.

‘’Public debts repayment arrears by the state government dropped by RM113.96 or 21.3 percent to RM422.12 million, compared to RM536.08 in 2017,’’ he said.

In addition, he said 15 of the 16 state agencies had submitted their financial statements for the year ending Dec 31, 2018 to be audited. 

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