CEO Morning Brief

Sarawak Unveils RM15.8b Budget for 2025

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Publish date: Tue, 12 Nov 2024, 09:48 AM
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TheEdge CEO Morning Brief
Photo by Sam Fong/The Edge

KUCHING (Nov 11): Sarawak Premier Tan Sri Abang Johari Tun Openg on Monday tabled an expansionary state budget totalling RM15.8 billion for next year, a 16% rise from the RM13.6 billion allocated for operating and development expenditures in 2024.

“The 2025 budget will continue to be an expansionary budget to boost government spending that will stimulate economic growth.

“The budget renews and reaffirms our commitment to championing the welfare of the rakyat through targeted measures aimed at alleviating the financial burdens of low- and middle-income groups and continuing to implement vital people-centric programmes and projects,” he said when tabling the budget at the state assembly here on Monday.

Under the theme “Together Building a Prosperous Future”, the Sarawak government is allocating RM10.9 billion for development purposes and RM4.9 billion for operating expenditures.

Abang Johari said the state anticipates a revenue of RM14.2 billion next year, with tax revenue totalling RM6.2 billion and non-tax revenue at RM7 billion.

“I am pleased to inform this august House that with the projected revenue of RM14.2 billion and total ordinary expenditure of RM13.7 billion, the 2025 budget is expected to generate a surplus of RM486 million,” he said.

Abang Johari said the budget, the largest in the state’s history, will continue to provide allocations to key sectors to accelerate economic development and eventually make the state economy prosperous, robust and resilient.

“Through this expansionary budget, we are making substantial investments in infrastructure, while placing the well-being of the rakyat at the forefront of our priorities,” he added.

Source: TheEdge - 12 Nov 2024

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