Selangor records budget surplus of RM480m


SHAH ALAM: Selangor has registered strong financial performance with a current surplus of RM480 million as at Aug 5, Menteri Besar Mohamed Azmin Ali announced today.

Its revenue was RM1.86 billion against expenses of RM1.38 billion.

The revenue of RM1.86 billion was about 82% of the expected RM2.25 billion revenue for 2016.

Talking to reporters at a round-table discussion of the state 2017 Budget today, Azmin said the state government faced a major challenge in diversifying its sources of revenue.

“We need to continue the strategic long-term economic planning with the right projection so that we can continue the practice of not presenting a supplementary budget.”

Azmin said discussions today also included a review on the level of poverty, including increasing the Poverty Line Income (PLI).

“We need to debate whether poverty can be categorised by region and race as well as the fixed PLI for Selangor.

“A study is being conducted by the state government to set the poverty line at 60% of the Selangor household income of RM3,300 (or RM1,980).”

The two-day discussion over the direction for Budget 2017 takes into account the views of professional leaders, industry representatives and policy-makers on the formation of the state budget.