25 November 2022. Friday
SHAH ALAM (Nov 25): The Selangor government presented its budget for 2023 on Friday (Nov 25) totalling RM2.45 billion, comprising RM1.25 billion (51%) for operating expenditure and RM1.20 billion for development expenditure (49%).
Selangor Menteri Besar Datuk Seri Amirudin Shari said the state government estimates revenue collection of RM2 billion next year.
He said among the main contributors to the state’s coffers next year would be land premiums amounting to RM753.72 million, or 38% of the estimated total revenue, followed by land tax amounting to RM570.51 million (29%), and the third largest contributor being a federal grant of RM214.81 million (11%).
“Taking into account the state’s expected revenue of RM2 billion and estimated expenditure of RM2.45 billion, there is a deficit of RM450 million in the 2023 budget,” he said when presenting the budget at the Selangor State Legislative Assembly.
He said the deficit is higher than in the 2022 budget, which had a RM293 million deficit due to disaster management preparations as a result of climate change and a provisional allocation to meet Selangor’s sustainable development needs.