Perak pre­pares for global eco­nomic down­turn

The Sun (Malaysia) - - NEWS WITHOUT BORDERS - BY P. CHAN­DRA SAGARAN

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.

BERNAMAPIX

Zam­bry (third from right) with state fi­nance of­fi­cer Datuk Mohd Ghaz­ali Jalal (sec­ond from right) be­fore tabling the state bud­get yes­ter­day.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.