KUCHING: Sarawak is set to benefit from a bigger budget allocation in 2024, which could spur its journey towards greater economic growth.
University Keusahawanan Koperasi Malaysia senior lecturer Professor Dr. Abu Sofian Yaacob said Sarawak might soon have more financial resources than Selangor.
He added that the additional funds offer Sarawak a great chance to support its smaller businesses.
“By using this special funding to aid small businesses, Sarawak’s economy can grow. This can also lessen the number of very poor people in the state,” Abu told New Sarawak Tribune.
Today (Oct 13), Prime Minister Datuk Seri Anwar Ibrahim confirmed that Sarawak will receive RM5.8 billion for its development in 2024. This is an increase from last year’s RM5.6 billion.
This added financial support could greatly change Sarawak’s economic scene, Abu said.
Sarawak’s neighbouring state, Sabah, will also get more funds. They’re set to receive RM6.6 billion in 2024, up from RM6.5 billion in 2023.
This increased funding shows the government’s dedication to growing the economies of both states.
