Kelantan tables deficit budget
BernamaPublished: Oct 7, 2013 11:22 AM | Updated: Oct 7, 2013 11:24 AM
The Kelantan state government today announced a deficit of RM10.39 million and a decline in expected revenue of 5.58 percent for next year’s budget.
The Kelantan state government today announced a deficit of RM10.39 million and a decline in expected revenue of 5.58 percent for next year’s budget.
Expected revenue is RM549.26 million while operating expenditure is expected to total RM559.64 million.
“The operating expenditure is expected to rise 4.42 percent over the previous year, turning the surplus budget in 2013 to a deficit budget in 2014,” Mentri Besar Ahmad Yakob said at a state legislative assembly sitting in Kota Baru today.
The budget has four main thrusts - promoting economic growth for the people’s well-being; Islam-based human development; aiding the poor, disabled, orphans, widows and the elderly; and enhancing institutional capacity and implementation.
Ahmad, who is also state Public Administration, Economic Planning and Finance Committee chairperson, said revenue in 2014 is estimated at RM549.26 million, a decline of RM32.51 million or 5.58 percent from the estimated revenue for 2013 of RM581.77 million, mainly attributable to a decline in land premium collection to RM24.80 million from RM45 million this year due to the absence of large-scale transfers of land next year.
The budget includes the petroleum royalty, the largest contributor to the state’s revenue at 36.41 per cent of the total of RM549.26 million, followed by land revenue collection at RM105.44 million or 19.20 percent.
Ahmad expressed hope that the state’s royalty claim would be settled by the federal government, while expressing gratitude to the Tengku Mahkota of Kelantan, Tengku Muhammad Faiz Petra, who has represented the state in meetings with the federal government over the oil royalty.
Revenue from mining is expected to contribute RM29.5 million or 5.37 percent, up RM18.5 million over the previous year, with forest products expected to contribute RM67.41 million or 12.27 percent, down RM19.89 million from the previous year.
The estimated operating expenditure for 2014 of RM559.64 million is RM23.69 million or 4.42 percent more than this year's RM535.95 million, while the focus of the development expenditure of RM211.38 million next year will be on provision of infrastructure and socio-economic develpement, he added.
The assembly sitting continues tomorrow.
- Bernama
Expected revenue is RM549.26 million while operating expenditure is expected to total RM559.64 million.
“The operating expenditure is expected to rise 4.42 percent over the previous year, turning the surplus budget in 2013 to a deficit budget in 2014,” Mentri Besar Ahmad Yakob said at a state legislative assembly sitting in Kota Baru today.
The budget has four main thrusts - promoting economic growth for the people’s well-being; Islam-based human development; aiding the poor, disabled, orphans, widows and the elderly; and enhancing institutional capacity and implementation.
Ahmad, who is also state Public Administration, Economic Planning and Finance Committee chairperson, said revenue in 2014 is estimated at RM549.26 million, a decline of RM32.51 million or 5.58 percent from the estimated revenue for 2013 of RM581.77 million, mainly attributable to a decline in land premium collection to RM24.80 million from RM45 million this year due to the absence of large-scale transfers of land next year.
The budget includes the petroleum royalty, the largest contributor to the state’s revenue at 36.41 per cent of the total of RM549.26 million, followed by land revenue collection at RM105.44 million or 19.20 percent.
Ahmad expressed hope that the state’s royalty claim would be settled by the federal government, while expressing gratitude to the Tengku Mahkota of Kelantan, Tengku Muhammad Faiz Petra, who has represented the state in meetings with the federal government over the oil royalty.
Revenue from mining is expected to contribute RM29.5 million or 5.37 percent, up RM18.5 million over the previous year, with forest products expected to contribute RM67.41 million or 12.27 percent, down RM19.89 million from the previous year.
The estimated operating expenditure for 2014 of RM559.64 million is RM23.69 million or 4.42 percent more than this year's RM535.95 million, while the focus of the development expenditure of RM211.38 million next year will be on provision of infrastructure and socio-economic develpement, he added.
The assembly sitting continues tomorrow.
- Bernama
View Comments0