KUALA LUMPUR, April 21 -- The World Bank Group suggests that Malaysia establish an annual revenue objective to gauge its tax collection potential, given the country's declining revenue trend over recent years.

In its Malaysia Economic Monitor report for 2023 launched today, the group said the government is looking at lower revenue this year due to a decrease in petroleum-related investments income.

The federal government's revenue is projected to decline to 15.6 per cent of GDP this year compared to 17.3 per cent in 2023, mainly due to lower investment income under non-tax revenue collection.

Specifically the government anticipates lower dividends from Petronas even though its assumption for global oil prices is slightly higher for 202...