The government has increased allocation for the repayment of loans linked to 1Malaysia Development Bhd (1MDB) by more than ten-fold from 2021 to 2022.
According to a report by an online news daily, a total of RM17.064 billion was allocated in 2022 compared to RM1.699 billion in 2021, for the repayment of loans.
Public Accounts Committee (PAC) member Vivian Wong Shir Yee shared these figures today from the Auditors-General’s Report, which was presented to the committee.
The report also highlighted two 1MDB bonds, namely 1MDB Energy Ltd and 1MDB Energy (Langat).
Both bonds matured in 2022, with combined principal amounting to USD$3.3 bil, equivalent to RM15.524 billion.
The Sandakan MP said as of the end of 2022, 1MDB’s company loan guarantees total RM18.17 billion, comprising bonds worth USD$3 billion, or RM13.17 billion.
“This is due for repayment in 2023, and bonds worth RM5 billion are maturing in 2039,” she said in a press conference in Parliament.
The report also revealed the huge jump of government subsidies by 322.1% from 2021 to 2022, where the largest portion of these subsidy expenses was allocated to petroleum products (amounting to RM45.184 billion)
It is an increase of RM42.309 billion, from RM13.134 billion in 2021 to RM55.443 billion the next year.
