Emulate Nordic Countries’ Prudent Financial Management - Abang Jo 

KUCHING, Aug 6 (Bernama) -- Sarawak must emulate the prudent financial management practices of Nordic countries, to ensure long-term economic sustainability.

Sarawak Premier Tan Sri Abang Johari Tun Openg said countries like Finland, Sweden and Norway may be relatively small in terms of population, but they are good at managing their finances.

“Norway, for instance, discovered oil in the North Sea much later than Malaysia did in 1910, yet today it is a wealthy nation. Its standard of living is among the highest in Europe.

“That is why we must closely examine how we manage our finances. In Sarawak, we have revenue, and we must know how to manage it,” he said in his speech at the Public Sector Financial Transformation Conference 2025, here, today.

Meanwhile, Abang Johari said to ensure long-term financial sustainability, the state government has established the Sarawak Sovereign Wealth Future Fund.

“Whatever money we have, we do not spend it lavishly. We will redistribute our income, including our oil revenue. We must make sure that when we redistribute through our policy, it must have an impact on the people,” he added.

-- BERNAMA