KUALA LUMPUR, Nov 10 — The Selangor government said it anticipates a revenue collection of RM2.2 billion for the fiscal year 2024.
Menteri Besar Datuk Seri Amirudin Shari today said that the primary contributor to the estimated revenue for 2024 is the Land Premium, which is expected to amount to RM890.94 million, constituting 40.5 per cent of the total revenue projection.
“This projection is based on the successful track record of collecting RM2 billion in revenue in August 2022 and September 2023,” he said during the tabling of the Selangor state Budget 2024 in Shah Alam this afternoon.
Following closely is the Land Tax revenue, contributing RM622.65 million, equivalent to 28.3 per cent.
The third major source of income is the federal grant, projected to contribute RM212.96 million, accounting for 9.7 per cent of the total revenue for the year.
Despite the optimistic revenue forecast, the state government acknowledged that the estimated expenditure for 2024 is set at RM2.53 billion, resulting in a budget deficit of RM330 million.
“This deficit is lower compared to the deficit incurred in 2023 which is a reduction of RM120 million.
“Despite implementing a deficit budget for the past six fiscal years, the government will take steps to reduce the total deficit to a reasonable amount through expenditure control instruments and the practice of good governance principles without affecting the output and impact of expenditure,” he said.
