KUCHING: Sarawak Premier Tan Sri Abang Johari Openg has projected that Sarawak's revenue collection could exceed RM15 billion next year, with the possibility of reaching RM20 billion.
"It's possible. I believe we could even hit RM20 billion," he said at the Sarawak Public Works Department gala dinner last night.
He said that the state's revenue for this year had already surpassed RM14 billion, and the allocation for the 2025 state budget stood at RM15.8 billion.
Abang Johari, who is also Finance and New Economy Minister, attributed the increase in revenue to the state's robust economy.
"We have restructured our economic base and are venturing into new areas," he said.
He assured that the state government would manage the funds wisely, highlighting plans such as the establishment of a sovereign fund for the future, setting aside funds for free tertiary education starting in 2026, and increasing the monthly salaries of state civil servants by between RM400 and RM700.
He also said that the state government was prioritising infrastructure projects as a foundation for economic expansion.
These projects not only stimulate business activities in the private sector but also improve services for the people, he added.
Abang Johari said that this is why the government was investing in major projects, such as roads and bridges, which require billions in funding.
He assured that Sarawak would not run out of funds due to these significant investments.
Instead of facing bankruptcy, the state's revenue has grown substantially.
"When I became Chief Minister in 2017, our income was around RM5 to RM6 billion. In just seven years, our income has more than doubled to over RM14 billion, and our state budget for next year is RM15.8 billion," he said.
He reassured the public that the state government had effectively managed its economy and finances.