SHAH ALAM: Selangor is projecting a lower growth rate of 5.2 percent in gross domestic product (GDP) this year compared to last year, Menteri Besar Datuk Seri Amirudin Shari said.
In his speech while tabling the Selangor First Plan (RS-1) 2021 to 2025 mid-term review here today, Amirudin said this year's projected growth rate was still higher than the country's projected GDP rate of between four and five per cent.
"Selangor recorded the highest economic growth of 5.4 per cent last year.
"Following the global economic growth forecast, which is expected to slow this year, Selangor's economic prospects are projected to grow at a rate of 5.2 per cent for the year," he said during the Selangor State Legislative Assembly here today.
The state, Amirudin said, continues to be a major contributor to the nation's GDP, with a share of 25.9 per cent last year, up from 25.5 percent in 2022 and 24.8 per cent the year before.
"Two days ago, the Statistics Department reported that Selangor set a record by contributing the highest share to country's GDP, increasing from 25.5 per cent (in 2022) to 25.9 per cent.
"For the first time, Selangor's economic value has reached RM406.1 billion, making it the first state in the country to surpass the RM400 billion mark."
Amirudin attributed this achievement to the success of the RS-1 five-year development plan.
"When I tabled the RS-1 plan about two years ago, Selangor's share of the national economy stood at 24.8 per cent.
"Thankfully, after the efforts of this administration to implement the programmes contained in RS-1, we are now beginning to see that our achievements have improved compared with previous years."
While the state is bent on accelerating growth in Selangor, Amirudin also gave assurance that the state administration under his leadership would continue to improve the people's wellbeing, including in its efforts to reduce absolute poverty.
"Selangor has improved its absolute poverty reduction target from 0.7 per cent to 0.5 per cent.
"This clearly demonstrates the state government's commitment to intensify efforts to reduce poverty rates in a targeted manner."
In 2022, he said the incidence of absolute poverty in Selangor was at 1.5 per cent, which is still high compared with the target of 0.5 per cent by 2025.
"The state government is aware of the challenges that we need to face in order to achieve this target.
"Having said that, we are working hard to improve the socioeconomic situation for all segments of society in Selangor."