KUCHING: Sarawak’s Budget 2025 is expected to significantly bolster the state’s economic growth, particularly in rural areas and infrastructure projects.
Universiti Malaysia Sarawak (Unimas) Faculty of Economics and Business (FEB) Industry and Community Engagement Deputy Dean Dr Nur Zaimah Ubaidillah said an increased focus on rural development will play a crucial role in enhancing the standard of living for marginalised communities.
“Through these major efforts, Sarawak is expected to have better access to public utilities such as electricity, water, enhanced road network, access to education, and also infrastructure.
“The investments provide a groundwork for economic diversity and inclusion which enables the marginalised society access to new prospects.
“In addition, greater amenities bolster domestic economic businesses, creating a favourable investment environment and provide job opportunities and job creation in various sectors and contribute to overall growth of the state,” she said when contacted by Sarawak Tribune.
As for financial sustainability, she said that a projected revenue of RM14.2 billion against an ordinary expenditure of RM13.7 billion through which the Budget expects a surplus of RM486 million, is an indication of the state’s prudent financial planning.
She pointed out that the sustainability of this projected surplus can be quite challenging as Sarawak relies heavily on natural resources.
“This can be seen in the concept of volatility, uncertainty, complexity and ambiguity of the global market. Hence, a more sustainable surplus can be seen through the diversification of the state’s income streams and cushioning potential risks via robust fiscal policies.
“On top of that, efficient project management and liability in expenditure development provide good help to yield long term positive returns,” she said.
With the Budget focused on transforming Sarawak into a developed region and a green hub by 2030, Zaimah pointed out that Sarawak has put its focus in various efforts on the state projects such as the Autonomous Rapid Transit (ART), hydrogen economy and many more for a long term economic resilience.
“These green initiatives and digital transformation provide resilience by positioning Sarawak as one of the global players (producer and exporter) in the global future energy direction towards decarbonisation, circular based economy (re-use, re-purpose and creating high value-added waste), and sustainable agriculture.
“By integrating digital transformation, Sarawak can enhance efficiencies and integration across various sectors, encourage technology-driven industry, and workforce with global mindset and capabilities.
“By aligning with the global future direction of sustainable energy and digitalisation, Sarawak’s economy is aligned with the global standard of environmental stewardship and digitalisation, creating resilience, adaptability and competitiveness against the volatility and complexity of the global market,” she said.
