SHAH ALAM, 30 Mar: The state government’s move in presenting a deficit budget in for 2015 is a move to correct the economic structure in facing the slow economic growth.
The Sultan of Selangor, Sultan Sharafuddin Idris Shah, expressed thankfulness as Selangor’s economy remains strong and the state government’s move is deemed to be appropriate for that purpose.
“The state government’s financial position on February 28 this year was reported to be strong, amounting to RM3.4 billion, and an increase in the Consolidated Fund of RM226 million compared to December 31 last year.
“Selangor’s economic planning should take into account the increase in population of the state where the dependency ratio has increased and the ability to focus of household income,” said the Sultan.
He said this at the Opening Ceremony of the Third Term of the thirteenth Selangor State Assembly (DNS) 2015 at the Selangor State Assembly Building today.
During the DNS session in November last year, the Chief Minister, Mohamed Azmin Ali, presented the Selangor Budget 2015 amounting to RM2.42 billion with a total deficit of RM450 million.
The Selangor Sultan is also proud because Selangor remains as the most developed state and continues to play a role in being the leader in the country’s economy.
“I am informed that Selangor remains as the most developed state in Malaysia and now contributes 23.5 percent to the country’s Gross Domestic Product (GDP).
“The average household income of Selangor is still in the lead with over 40 percent more than the national average,” said the Sultan.
The Sultan said that in 2012, the average household income in Selangor increased to RM7,023 compared with Malaysia’s average household income of only RM5,000.
“Meanwhile, the poverty rate in Selangor continues to decline from 0.7 percent in 2009 to 0.4 percent in 2012,” said the Sultan.
NS
