SELANGOR is set to become an economically independent state in the upcoming year following the unveiling of its 2024 budget.
With an RM2.53 billion allocation, the state is working towards promoting progress and building togetherness among its communities.
Several notable goals were unveiled by Menteri Besar Dato’ Seri Amirudin Shari during the tabling of the budget, including the clearing of Selangor’s debt obligations next year, which he cited as a pivotal step for the state towards financial stability and sustainability and ensuring robust economic growth in the years to come.
The debt-free goal is itself a demonstration of the Amirudin administration’s prudence in financial management. The image lends well to its larger objective of being a responsible government, one that sees to the well-being of its people.
Political analyst Azmi Hassan of Nusantara Academy for Strategic Research explained that being a debt-free state government would mean Selangor has more money to spend on the people, as it is no longer obligated to repay debts to the Federal government.
On November 10, Amirudin said that Selangor’s debt liability with the Federal government stands at RM19.2 million, most of which is from past commitments related to its water supply project and the Selangor State Trust Scheme (Asas).
Achieving a debt-free status would be a significant milestone for Selangor, but as Azmi sees it, Selangor, as Malaysia’s most developed state, should have already achieved high-income status some time ago.
“I think Selangor should have achieved its high-income status in July, when the World Bank announced Kuala Lumpur, Penang, and Sarawak as high-income states.
“This is something the Selangor government should focus on, how it will increase its income,” Azmi said.
