State Budget 2019 people-centric and prudent, says KKCCCI
KOTA KINABALU: Kota Kinabalu Chinese Chamber of Commerce and Industry (KKCCCI) has lauded the State Budget 2019 as a people-centric, efficient and prudent budget.
Its president Datuk Michael Lui said yesterday the first budget tabled by the Chief Minister cum Finance Minister Datuk Seri Panglima Shafie Apdal of the Warisan-led state government reflected their commitment to improve the wellbeing of the people, as well as to ensure sustainable and steady growth for Sabah’s economy.
Despite global uncertainties, the financial challenges and debts plaguing our country, Lui was relieved to see no major cuts in the budget.
He said the state government had taken into consideration the development of the private sector and investors to ensure they had the capacity to face global challenges.
“The state budget next year is a call for the people to be prudent and tighten their belts.”
In light of the challenging business environment, Lui said the government must boost confidence through creating a conducive climate, strengthen the state’s economy, developing the industrial and agriculture sectors, and improving basic infrastructure to stimulate economic growth.
The state government on Friday presented a surplus budget of RM 4.16 billion for the year 2019, an increase from this year’s RM 4.104 billion budget. Revenue for next year is expected at RM 4.27 billion.
Shafe said the surplus involved an increase of RM 40.43 million or equivalent to 62.31 per cent compared to 2018, the highest surplus in the last five years.
Meanwhile, Lui also hailed the projected economic growth of five per cent to six per cent next year, which is an improvement from 5.0 per cent to 5.5 per cent growth for 2018, and 4.0 per cent to 4.5 per cent growth in 2017.
He added that the State Budget, themed ‘Driving Growth for the People’, included a sum of RM 518.42 million allocated to various ministries for programmes to improve welfare and people’s wellbeing.
“Elderly folks, disabled people and underprivileged groups were not marginalized as well.”
He also welcomed the increase of allocation for missionaries and private schools from RM 12 million in year 2018 to RM 15 million in year 2019.
Although the development expenditure of RM934.68 million for 2019 was less than the RM1.09 billion allocated for this year, he believed that the state government would spend the funds wisely to ensure developments in the state achieved the desired outcome.
“We want to see policies and developments that benefit the people and propel the progress of the state.”
He also hoped that the RM 229.89 million for tourism development would be used on developing new tourist attractions to improve competitiveness of our local tourism products, thereby enhancing Sabah’s reputation as a tourism haven.