SARAWAK’S Budget 2023 is expected to generate a surplus of RM238 million with a projected revenue of RM11.035 billion and an ordinary expenditure of RM10.797 billion.

When tabling the budget at the state assembly in Kuching today, Premier Abang Johari Openg said it will continue be expansionary and invest heavily in infrastructure with the well-being of the people as its centrepiece.

“In a nutshell, Sarawak’s Budget 2023 is a strategic, comprehensive and integrated road map to position Sarawak for the future. While the way forward may not be easy, I am confident we can overcome the challenges.”

The budget, themed “Sarawak first: Towards an inclusive, prosperous and harmonious society”, is anchored on five principles, including developing a more robust, competitive and equitable economy.

Abang Johari said 48%, or RM5.246 billion, of the projected revenue next year will be derived from taxes, royalties, premiums, tariffs, land rentals and others, while non-tax revenue made up another RM5.498 billion. 

“Non-revenue receipts are expected to be RM26 million, mainly from unclaimed deposits, overpayment recovered, liquidated ascertained damages and penalties, forest liquidated damages, other compounds, and disposal of vehicles. Federal grants and reimbursements are expected to be at RM265 million,” he said.

For the ordinary expenditure next year, he said RM3.997 billion will be for operation while RM6.8 billion will be for financing the implementation of various development programmes and projects.

He said Sarawak’s economy for this year is expected to grow 5.5-6.5% through the support of strong external demand and improvement in domestic economic activities.

Abang Johari said the state’s manufacturing and services sectors are expected to be the main drivers for 2022 with a growth of 6.8% and 7% respectively, while the construction sector is projected to grow at 5%. – Bernama, November 21, 2022.