Budget 2024: Allocation increase shows Federal Govt's will to bridge development gap in Sabah, Sarawak

KOTA KINABALU: Sabah sees the increase in development allocation as a positive move by the Federal Government to reduce the development gap between Peninsular Malaysia with Sabah and Sarawak, says Datuk Seri Hajiji Noor.

The Sabah Chief Minister said the RM6.6bil allocation for Sabah, which is RM100mil more than last year, was also part of Putrajaya's efforts to fulfill the implementation of the Malaysia Agreement 1963.

"The state government welcomes this allocation and is determined to use it as an inspiration when we table the Sabah state Budget 2024 soon.

"The essence of the Madani Budget 2024 will be taken into account and streamlined with the core of the Sabah Maju Jaya (SMJ) development plan through the state budget," he said in a statement on Friday (Oct 13).

Prime Minister Datuk Seri Anwar Ibrahim when tabling the national Budget 2024 announced that besides Sabah, Sarawak will receive RM5.8bil development allocation next year.

Hajiji said Budget 2024 presented by Anwar, who is also Finance Minister, prioritised the interests of the people.

Hajiji added the improved and progressive fiscal policy introduced through the Budget will have a major impact on Sabah in efforts to develop the state's economy and attract foreign investment.

"We see the policy introduced through the Budget 2024 as very inclusive, taking into account the global economic situation," he said.

He said that Sabah marked a record RM118.1bil in trade last year, its highest in history, compared to only RM87.2bil in 2021.

In addition, Hajiij said, the state managed to bring in more than RM33bil in investment value in the past three years.