Malaysia’s Selangor Mentri Besar Datuk Seri Amirudin Shari has presented a projected state budget of RM2.53bil for 2024, with a deficit of RM330mil, which is RM120mil lower than the deficit in the current year’s budget.
Out of the total allocation, RM1.33bil or 52.6% will go towards administrative expenses, while RM1.2bil or 47.4 % will be allocated for development.
Amirudin, presenting the budget at the state assembly sitting, stated that the state government expects to collect around RM2.2bil in taxes, based on the successful collection of RM2bil in taxes between August last year and September this year.
Land premiums are projected to be the biggest contributors to the state’s taxes in 2024, amounting to RM890.94mil, or an estimated 40.5% of the entire estimated taxes,” said Amirudin.
He also mentioned that the 2024 state budget will have a deficit of RM330mil, which is RM120mil lower than the RM450mil shortfall in the 2023 budget.
Despite the state’s last six budgets being in deficit, the Selangor government is committed to taking the necessary measures to reduce the deficit.
