KUCHING: Sarawak’s revenue collection stands at RM11.63 billion as of October this year, which has surpassed the original revenue estimates of RM11.35 billion for 2023.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said Sarawak is projected to collect a revenue of RM12.7 billion this year, an increase of RM808 million or 7 per cent compared to the 2022 revenue collection of RM11.9 billion.
“This will be Sarawak’s record-breaking and highest ever revenue collection in its history,” he said when tabling the 2024 State Budget in the State Legislative Assembly (DUN) sitting here today.
He said the actual revenue collection of RM11.63 billion is mainly from the following major sources, including state sales tax (SST) of RM4.23 billion, cash compensation in lieu of oil and gas rights of RM2.86 billion, dividend of RM2.09 billion, as well as federal grants and reimbursements of RM270 million.
Abang Johari, who is also the Minister for Finance and New Economy, said the ordinary expenditure for 2023, has been revised upwards from RM10.79 billion to RM11.16 billion, an increase of RM368 million or 3.4 per cent as approved in the last Dewan Undangan Negeri sitting.
As of October, RM8.35 billion or 75 per cent of the ordinary expenditure has been expended, of which RM3.25 billion was expended for operating purposes, while RM5.1 billion was appropriated to the Statutory Funds.
As for development expenditure, he said, RM5.66 billion out of RM8 billion or 71 per cent has been expended for the same period.
“As the development momentum continues to pick up and project implementation intensifies, the expenditure is expected to increase towards the end of the year,” he added.
