Pahang presents surplus budget for 15th time since 1992

KUANTAN: The Pahang government today tabled its 2018 budget which promises a surplus for the 15th time since 1992.
Mentri Besar Datuk Seri Adnan Yaakob said the state's revenue collection in 2018 was estimated at RM700.64 million, while its operating expenditure would be RM700.4 million, resulting in a surplus of RM640,000.
"Although it's not much, it is still a surplus. I know the opposition will make an issue out of this, so I would like to make it clear that the state budget for 2018 is a surplus budget ... and not a deficit budget," he said when tabling the State Budget 2018 at the State Assembly sitting here today.
He said the state government had also set aside an allocation of RM108.57 million for development expenditure next year.
The state's revenue collection for 2018 was expected to come from land and mineral revenue (RM337.7 million), forest revenue (RM102.4 million), water revenue (RM12.5 million), federal government's grants (RM159 million), and other revenue (RM88.9 million).
"The state government is still allocating RM50 million from the State Development Provident Fund to the Pengurusan Air Pahang Berhad (PAIP) for water supply development projects," he said.
On economic growth, Adnan said the state's economy had seen a rapid growth and recorded investments of RM5.2 billion last year compared to only RM3.9 billion in 2015.
"Pahang has also been consistent in contributing to the National Gross Domestic Product (GDP) at a rate of 4.4% in 2016 and 4.2% in 2015.
He said the state's labour force participation rate in 2016 stood at 66%, while the unemployment rate was only 2.6% compared to the national unemployment rate of 3.4%.
Before ending his budget speech, Adnan also announced a special payment of RM1,500 for approximately 8,000 civil servants in the state.
He said the payment would be made twice, namely RM1,000 in early January and RM500 during Hari Raya Aidilfitri. — Bernama