KUALA KANGSAR, Nov 15 — The Perak government is expected to once again turn a projected deficit of RM95.5 million into a financial surplus this year, marking five consecutive years of surplus.

Menteri Besar Datuk Seri Saarani Mohamad said the encouraging fiscal performance was driven by prudent management of the state’s treasury, with revenue collection reaching RM1.1 billion and being on track to meet the target of RM1.48 billion.

“Indeed, I realise the truth that the state’s wealth is not meant for boasting, but for safeguarding; not for wasting, but for putting to good use, for the benefit of the people and the long-term prosperity of the state,” he said.

He said this when delivering his address at the Royal Pledge of Loyalty Ceremony and the Conferment of Perak State Honours in conjunction with the 70th birthday of the Sultan of Perak at Istana Iskandariah here today.

Earlier, Sultan of Perak Sultan Nazrin Shah and Raja Permaisuri of Perak Tuanku Zara Salim graced the ceremony.

Saarani said Perak’s gross domestic product (GDP) grew by 5.7 per cent to RM91.5 billion last year, compared with 4.8 per cent in 2024 and 2.8 per cent in 2023, when GDP stood at RM82.7 billion, while the manufacturing sector surged threefold, recording growth of 15.2 per cent in 2025.

He said the economic growth also contributed to a reduction in the unemployment rate from 4.8 per cent in 2021 to 3.5 per cent in 2025, with the number of employed residents reaching 1.2 million in the second quarter of 2026.

“In fact, the number of job vacancies advertised increased by 40.7 per cent to 71,815 positions in 2025.

“More encouragingly, a total of 14,105 job placements were recorded, with placements offering salaries of RM2,000 and above surging by 107 per cent, while placements offering salaries of RM3,000 and above increased by 93 per cent compared to the previous year,” he said.

To ease cost-of-living pressure following the West Asia crisis earlier this year, Saarani said the state government increased the allocation for the ‘Pasar Sejahtera Rakyat Perak’ programme to RM3.2 million, with 132 programmes benefiting more than 28,000 people until September.

He said the state government was also implementing the Perak Sejahtera Initiative: People-Centric 2026 through relaxations in land transactions, extensions of payment periods, waivers of fines and fee reductions.

“Although the economic storms come and go, His Royal Highness’ Government has never wavered in its course, using the ‘Pelan Perak Sejahtera 2030’ as a guiding light to expand trade horizons, maintain the prosperity of the state and ensure the welfare of the people is not overlooked,” he said.

Saarani said the momentum of state development was further strengthened through the 2027 Budget, with seven out of 10 of Perak’s development aspirations having been approved by Prime Minister Datuk Seri Anwar Ibrahim under the 13th Malaysia Plan.

These include the education complex in Sitiawan, the cardiothoracic surgery facility at Raja Permaisuri Bainun Hospital, the Sungai Sepetang flood mitigation plan, the construction of schools in Ipoh and Chemor, the Perak Elephant Sanctuary Centre, and the Proton City Fire and Rescue Station.

In addition, he said two out of five state growth nodes, namely the Automotive High Tech Valley (AHTV) in Tanjong Malim and the Lumut Maritime Industrial City (LuMIC), were also included in the national budget.

Proton’s centralisation of vehicle production in AHTV has increased its workforce from 1,500 people in 2021 to 7,400 people.

“Meanwhile, electric vehicle production, which stood at around 100,000 units in 2023, is expected to increase to 300,000 units by 2027, further strengthening Tanjong Malim’s position as a national automotive industry hub.

“In Lumut, the implementation of the Third Regasification Terminal project by Petronas Gas Bhd is set to strengthen the country’s energy infrastructure.

“Once established, this facility will further strengthen LuMIC’s position as an important hub in the regional energy network, while opening up opportunities for development and expanding business activities in Perak Darul Ridzuan,” he added. — Bernama