ISKANDAR PUTERI – Johor’s economy is on track to recovery and is forecasted to grow between 3% and 5% this year.
Menteri Besar Datuk Hasni Mohammad said the forecast is based on Bank Negara Malaysia’s updated projection of the national growth level at 3% to 4%.
Nonetheless, he said Johor’s economy has remained on the path to recovery this year thanks to the increasing Covid-19 vaccination rate, enabling the state to transition to the next phases in the National Recovery Plan.
Speaking at the fourth session of the Johor state assembly, he said the reopened economic sectors will gradually restore household and business sentiments.
“Johor’s economy will benefit from the positive spillover effects of increased external demand, local pent-up demand and continued investment in large-scale infrastructure projects,” the Benut assemblyman said at Bangunan Sultan Ismail, Kota Iskandar, here today.
Besides, he said the Ihsan Johor 1.0, 2.0 and 3.0 economic stimulus packages have successfully provided cash flow support, particularly to the affected households and businesses.
Last year, the state’s economy shrank 4.6% compared to 5.6% at the national level.
Hasni said, based on the latest financial statements from Tuesday, the state’s financial position is at a stable level with the accumulated balance of the consolidated fund amounting to RM1.38 billion.
He said the state government’s revenue collections, as of the same date, amounted to RM1.05 billion or RM65.29 billion from the initial estimate.
“Johor’s financial position currently stands at a surplus of over RM184.72 million,” Hasni said.
He was responding to questions from Chew Chong Sin (Mengkibol-DAP), Abd Taib Abu Bakar (Machap-Umno), Khairuddin A. Rahim (Senggarang-Amanah), Datuk Md Othman Yusof (Kukup-Umno), Aminolhuda Hassan (Parit Yaani-Amanah) and Tan Chen Choon (Jementah-DAP) on Johor’s economic performance since the outbreak of Covid-19 as well as the forecast for this year. – Bernama, August 22, 2021
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