KUCHING: Sarawak is poised to record its highest ever revenue of RM15.091bil next year, says Tan Sri Abang Johari Openg.
The Premier said the state's revenue had more than doubled over the past decade, compared to RM6.86bil in 2017.
"Such remarkable growth is a testament to the government’s continuous effort and determination to safeguard long-term financial sustainability of the state," he said when tabling the 2027 state budget at the Sarawak Legislative Assembly on Monday (Oct 12).
Abang Johari said the 2027 state budget proposed a total ordinary expenditure of RM14.845bil, generating a surplus of RM246mil.
Of the total, RM5.747bil or 39% is allocated for operating expenditure while RM9.098bil (61%) will be appropriated to the Development Fund Account.
"This appropriation serves to strengthen the balance carried forward in the Development Fund Account, ensuring adequate financing for the 2027 development expenditure, which has been budgeted at RM10.098bil," Abang Johari said.
He said this was among the highest amounts allocated for development, reflecting the Sarawak government's commitment to fulfilling and delivering the people's needs.
He also said RM300mil will be appropriated to the Sarawak Sovereign Wealth Future Fund next year, ensuring that a portion of the state's revenue is preserved to benefit future generations.
On the state's higher revenue, Abang Johari said the increase comes in part from the revision of the Federal Government's special grant from RM600mil to RM1.5bil effective this year as an interim measure pending a formula to be agreed upon by both parties.
Thanking Putrajaya for the raise, he urged the Federal Government to expedite the finalisation of the formula to fully honour the obligations under the Malaysia Agreement 1963 (MA63).
"This step is not merely financial in nature. It reaffirms the spirit of mutual partnership between the state and the federation and is vital to ensure that Sarawak’s rights under MA63 and the Federal Constitution are upheld," he said.
