Perak prepares for global economic downturn
IPOH: Mentri Besar Datuk Seri Zambry Abd Kadir yesterday tabled a budget of RM1.2 billion with a deficit of RM129 million for 2017 which includes an allocation of RM100 million for the State Economic Action Council to prepare for the global economic scenario.
The council is reactivated whenever an economic downturn occurs.
The budget will be debated in the next five days.
Zambry said the council had been activated and the allocation for the rolling plan would be utilised to draw up strategies and strengthen economic growth in the face of uncertainties due to outside factors.
Among them are the slow growth among the world’s economic powers with 3.1% this year compared to 3.2% in 2015; unstable oil prices and financial markets; low prices of commodities; Brexit and the recent US presidential election.
He stressed the state will only face a deficit of RM29.68 million as the RM100 million had been included in the budget which gives an impression that it was a huge deficit.
The projected revenue is expected to be RM1.08 billion.
“We will see a surplus at the end of 2017,” Zambry said.
Later at a press conference, he took a swipe at the Opposition which harped on the deficit budget without going through all the components of the expenditure and revenue.