Terengganu Reviews Budget Following Drop In Oil Prices
The Terengganu Government will review the 2015 state budget tabled in December, following the recent drop in oil prices.
Menteri Besar Datuk Ahmad Razif Abdul Rahman said prior to this, the RM2.37 billion state budget was tabled with a target to continue the policy of managing a surplus budget.
He said the budget which was tabled was based on past acquisitions, adding however, there might be some differences as the oil prices dropped slightly.
Speaking to reporters here today, he said the new budget would be fixed to commensurate with the percentage of petroleum royalty from the federal government this year.
Meanwhile, Ahmad Razif said the state government would continue with existing development projects and that evaluations would be made on new projects.
He said the state government would evaluate projects to deepen river estuaries, specifically in areas which were often inundated by floods.
He said there was a possibility big floods in such areas could have been caused by shallow river estuaries which caused water to overflow fast.
“We are inspecting several areas such as Kampung Kuala Jengai, Kampung Pasir Raja and Kampung Shukor,” he said.