Global Supply Crisis: Selangor's Financial Position Still Healthy -- Amirudin

SHAH ALAM, June 15 (Bernama) -- Selangor's financial position is still at a healthy level despite the global economic uncertainties following the supply crisis and fluctuations in world markets.

Selangor Menteri Besar Datuk Seri Amirudin Shari said the state government did not see the need to take emergency measures because revenue collection remains on a positive track.

State revenue collection reached RM1.6 billion as of May against this year’s RM2.8 billion target, with the current collection trend showing positive development.

"We have not yet pressed the 'panic button', but are monitoring weekly and monthly developments," he said at a press conference after launching the Selangor Resilience Strengthening Package Phase 1 at the Selangor State Secretary's Office (SUK) Building here today.  

Amirudin added that Selangor also recorded a RM300 million surplus against total expenditure due to the state government's savings.

Although this year's financial position is not as strong as last year's, the state government is confident of achieving the set revenue target, and it still has good reserve collection, he said.

"At the same time, various efforts are being made, including through the land disposal process, changes to the actual conditions of land for industrial purposes and the influx of new investments into Selangor," he said.

Amirudin said the real impact of global economic uncertainty is expected to be seen in the next few months, and the state government is taking a proactive approach to reduce its impact on the people and the economic sector.  

-- BERNAMA