[ad_1]
ALOR SETAR: The Pakatan Harapan-led administration in Kedah today tabled the state Budget 2019 with a projected deficit of 8.14% compared with 10.19% in 2018.
Menteri Besar Mukhriz Mahathir said the projected deficit was RM57.78 million, while the operating expenditure for 2019 was reduced by 10.61% from the previous year.
“The operating expenditure is RM768 million and of that amount, RM108 million will be allocated as a contribution to the development fund,” he said when tabling the budget during the state legislative assembly here today.
As for development expenditure, he said the state government has allocated RM86 million.
“In 2019, the state government is expected to rake in RM710 million in revenue, with RM295 million from tax revenue, RM215 million from non-tax revenue and RM200 million from non-tax revenue receipts,” he said.
Mukhriz said this anticipated revenue was more realistic and achievable as compared to the RM779.5 million expected this year, because as at Nov 5, the actual revenue collected was only RM475.35 million, or 60.98%.
He went on to describe the budget as something that was not “extraordinary”.
“This is the state’s current financial position and that is all that we have. So we shall take a realistic and prudent approach in managing the state’s finances.
“We do not want to table a ‘feel-good’ budget with the announcement of various mega projects and large allocations when in reality we do not have the funds to fulfil the promises.”
[ad_2]
Source link
