KUCHING, Nov 21 (Bernama) -- Sarawak’s Budget 2023 is expected to generate a surplus of RM238 million with a projected revenue of RM11.035 billion and a total ordinary expenditure of RM10.797 billion.
When tabling the budget at the state assembly here, Sarawak Premier Tan Sri Abang Johari Tun Openg said the budget would continue be expansionary and invest heavily in infrastructures with the wellbeing of the people as its centrepiece.
“In a nutshell, Sarawak Budget 2023 is a strategic, comprehensive, and integrated roadmap to position Sarawak for the future. While the way forward may not be easy, I am confident we can overcome them,” he said.
The proposed budget, themed “Sarawak First: Towards an Inclusive, Prosperous and Harmonious Society,” is anchored on five principles, which include developing a more robust, competitive, and equitable economy;
Abang Johari said 48 per cent, or RM5.246 billion, of the projected revenue next year would be derived from taxes, royalties, premiums, tariffs, land rentals, and others, while non-tax revenue made up another RM5.498 billion.
“Non–revenue receipts are expected to be RM26 million, mainly from unclaimed deposits, overpayment recovered, liquidated ascertained damages and penalties, forest liquidated damages, other compounds, and disposal of vehicles. Federal grants and reimbursements are expected to be at RM265 million,” he added.
For the ordinary expenditure next year, he said RM3.997 billion would be for operation, while RM6.8 billion would be for financing the implementation of various development programmes and projects.
Abang Johari said Sarawak's economy for this year is expected to grow between 5.5 percent to 6.5 percent through the support of strong external demand and improvement in domestic economic activities.
He added that the Sarawak manufacturing and services sectors are expected to be the main drivers for 2022 with a growth of 6.8 and 7 percent respectively, while the construction sector is projected to grow at 5 percent.