BUSINESS

Johor's Budget 2023 records surplus of RM2.44 mln

01/12/2022 01:17 PM

ISKANDAR PUTERI, Dec 1 (Bernama) -- The Johor state government has tabled the state’s Budget 2023, its first surplus budget after two consecutive years of deficit budgets during the State Legislative Assembly (DUN) sitting here today. 

The last time the state government presented a surplus budget was in November 2019.

Johor Menteri Besar Datuk Onn Hafiz Ghazi said the state’s revenue next year is expected to be at RM1,734.18 million, and the projected state expenditure is approximately RM1,731.74 million, resulting in a surplus of RM2.44 million.

Presenting Budget 2023 for the first time, he said the state’s revenue is expected to increase by 3.75 per cent next year, while its operating expenses for the same period are projected to decrease by 11.56 per cent.

Onn Hafiz said the budget, themed "Maju Johor: Makmur Bersama Rakyat” (Prospering with the People), is a continuation of the state government’s efforts to boost Johor’s economic growth.

“As a caring government, there are various initiatives in Johor’s Budget 2023 which are aimed at reducing the global economic impact and ensure that growth targets can be achieved, which, God willing, will improve the people’s well-being," he said.

Onn Hafiz said next year's state expenditure consisted of development expenditure of RM600 million while operating expenditure amounted to RM1.12 billion.

He noted that although Malaysia is currently in the recovery phase, the turbulent global economy would have an impact on the country’s economic growth, including that of the state, due to its open economy.

“Johor’s Budget 2023 was drafted with the 3.8 million Johor people always in the hearts and minds of the Johor state government.

“We are in the midst of a challenging economic environment, so it is important to prepare a sustainable and resilient economic plan as well as sufficient reserves to face various future challenges," he added.

-- BERNAMA


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