SHAH ALAM, Nov 19 — According to The Star today, Selangor’s RM1.85bil allocation for its 2014 budget is the biggest ever in the state’s history.
Menteri Besar Tan Sri Khalid Ibrahim, who tabled the budget at the state legislative assembly today, said 66.2 per cent of the budget was allocated towards operational expenditure, which included supply and funding expenditures, The Star reported.
Khalid also announced that the state’s reserves was at its highest in Selangor’s history.
“I would also like to take this opportunity to announce that as at October 31, 2013, Selangor’s consolidated funds in the form of cash and investments were RM2.7bil.
“This amount indicates that the state’s reserves are the highest ever achieved in the history of Selangor,” he added.
The Star report stated that Khalid also said there may be criticism over the state’s active accumulation of reserves due to a lack of understanding about financial and fiscal management.
The Menteri Besar also announced that 33.78 per cent of the budget would go towards developmental expenditure.
