BY NAZLI IBRAHIM
SHAH ALAM, AUG 11: The Federal Government would be able to increase its income to a better level if it applys the State Government’s formula in its administration in Putrajaya.
The Chief Executive Officer of Selangor Economic Advisor’s Office, Dr Fahmi Ngah that is proven when the average annual income growth in Selangor in 2015 and 2016 were at 10.4 percent per year compared to federal which reduced to 0.6%.
He said, Selangor is also projecting its revenue growth at 13% compared to 0.8% in federal, this year.
“This means that Selangor is able to formulate new revenue generation initiatives such as better revenue collection, no corruption and leakage and investments with better returns.
“Selangor also usually allocate bigger development expenditure annually compared to federal where for 2017, it is increased by 52% from total annual expenditure compared to only 18% at the federal level,” he said to SelangorKini.
Fahmi who is also the Smart Selangor Delivery Unit (SSDU) Deputy Director said that the formula applied by State Government is showing results when today, Selangor is able to register a much better economic growth rate.
He said, using the same formula and good governance, the State Government’s leadership would be able to bring a better development for Malaysia is they manage to takeover Putrajaya.
When asked about the prospect of Selangor’s economic growth rate in 2018, Fahmi again expressed his confidence on Selangor’s ability to record healthy earning growth.
“I am confident we can achieve a better growth rate in 2018 and the following years if the State Government dares to invest in new industries such as biotechnology, e-commerce, halal, smart cities and aerospace,” he said.
Selangor’s formula can boost Malaysia’s economy
