BY SARAH HAFIZAH CHANDRA & NOOR SYAHHIRA HADY
The 2023 Budget themed ‘Sarawak First: Towards an Inclusive, Prosperous, and Harmonious Society’ has been formulated by anchoring five principles.
Finance and New Economy Minister Datuk Patinggi Tan Sri Abang Johari Tun Openg stated the five principles are developing a more robust, competitive and equitable economy; building Sarawak as a competitive and resilient state; creating a smart society underpinned by digital technologies, knowledge and innovation; continuing to foster a united, harmonious and caring society where efforts would not leave anyone behind, and continuing to plan forward for fiscal sustainability to ensure future security for children and grandchildren as well as generations to come.
“The state fiscal strategy continues our balanced approach by managing debt prudently, reducing the deficits caused by COVID-19 expenditures while rebuilding and revitalising the economy,” he said.
He said this when tabling the Supply (2023) Bill, 2022 at Sarawak State Legislative Assembly (DUN) sitting on Monday (Nov 21).
In line with the goals of Post COVID-19 Development Strategy (PCDS) 2030, he said the 2023 State Budget is framed across 11 strategic thrusts aimed at steering the state’s economy towards higher growth and accelerated development.
The 11 strategic thrusts are achieving economic prosperity; simulating economic growth; promoting investment and enterprises development; transforming Sarawak into a competitive economy; developing human capital; accelerating digital adoption and data utilisation; balancing economic growth with environmental sustainability; strengthening social welfare; enhancing culture, sports and youth development; promoting research and development, science and technology and innovation; enhancing state government capacity and service delivery.
“Anchoring these 11 strategic thrusts, the state economic recovery plan under the 2023 Budget will thus focus on accelerating economic growth and strengthening the momentum of recovery.
“Besides that, it will also focus on stimulating private investments, generating employment and business opportunities as well as building a more competitive and income-generating income,” he added.
