KUCHING: Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg has tabled an expansionary 2024 State Budget of RM12.363 billion – the state’s largest ever – in the State Legislative Assembly sitting today.
He said RM4.56 billion is allocated for operating expenditure, while RM7.8 billion is for appropriation to the Development Fund Account to finance various development programmes and projects.
Abang Johari said with the projected revenue of RM12.7 billion and total ordinary expenditure of RM12.363 billion, the 2024 State Budget is expected to generate a surplus of RM386 million.
“This is the largest ever budget unveiled by the Sarawak government in history, a testimony to the success of our revenue reengineering efforts and prudent financial management. With this, we are adopting an expansionary budget that invests heavily in infrastructures and places the well-being of the rakyat in the centrepiece,” he said.
Themed “Development for All: Together, Building a Prosperous, Sustainable and United Sarawak”, aimed to strike a balance among responding to immediate challenges, creating more opportunities for Sarawakians, laying a foundation for a resilient economy, and ensuring long-term fiscal sustainability.
“The budget will deliver cost-of-living relief in some areas to reduce the financial burden of low and middle-income groups, make targeted investments and continue to implement vital programmes and projects for the benefit of the rakyat,” he said.
Abang Johari, who is also the the Minister for Finance and New Economy, said the 2024 State Budget provides an allocation of RM9.038 billion for development purposes, of which RM8.915 billion will be funded by State fund while RM123 million through Federal loan and reimbursable grant.
“The budget will continue to provide allocation to key sectors to accelerate economic development and eventually make the State economy prosperous, robust, and resilient,” he added.
