15th Budget Deficit in a row

Much has been written already about the new budget, I won't repeat what has been said. There is just one item (a major one) that I don't like at all, for the 15th time in a row there will be a budget deficit:

1998: Deficit

1999: Deficit

2000: Deficit

2001: Deficit

2002: Deficit

2003: Deficit

2004: Deficit

2005: Deficit

2006: Deficit

2007: Deficit

2008: Deficit

2009: Deficit

2010: Deficit

2011: Deficit

2012: Deficit

It started in 1998, which was understandable with the huge Asian crisis going on, in 2000/1 there was the internet bubble, in 2003 there was SARS and in 2008/9 the Western financial crisis. But all the years in between, why was there a need for deficits, economic growth was fine? About 40% of the government revenue in Malaysia is from oil and gas, and social services are much less than in Western countries. A country like Malaysia should not have a structural deficit, in the contrary, being so lucky with having oil and gas.

According to this article:


Malaysia's debt is currently about RM 362,000,000,000 (362 Billion), that is close to RM 13,000 per Malaysian citizen or RM 65,000 per family of five. These are huge numbers and have to be paid back somewhere in the future.