Abang Johari: 2022 State revenue estimate revised upward to RM10.159 bln from RM10.036 bln

Abang Johari delivering his budget speech at the Third Session of the First Term of the 19th Legislative Assembly (DUN) sitting today (Nov 21, 2022). Screenshot taken from a Sarawak Public Communications Unit (Ukas) Facebook Live video

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By Ashley Sim and Nur Ashikin Louis

KUCHING, Nov 21: The State’s revenue for 2022 which was originally estimated at RM10.036 billion has been revised upward to RM10.159 billion mainly due to favourable prices of oil and gas as well as crude palm oil, reveals Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

Abang Johari announced this during the Third Session of the First Term of the 19th Legislative Assembly (DUN) sitting which was held at the DUN complex here this morning.

“As of Oct 31, 2022, the State has collected RM9.695 billion or 95 per cent of the revenue projection, mainly contributed by collection from State sales tax (SST), cash compensation in lieu of oil and gas rights, and dividend income,” he said.

He also highlighted that the Ordinary Expenditure for 2022 has been revised upward from RM10.646 billion to RM10.706 billion, an increase of RM60 million or 2.5 per cent.

“As of Oct 31, 2022, RM7.862 billion or 73 per cent of the Ordinary Expenditure has been expended.

“The amount expended made up of Operating Expenditure of RM2.912 billion and the balance of RM4.950 billion for appropriation to the Development Fund Account.

“We are expected to meet our projected budget as we move towards the end of the year,” he added.

Furthermore, Abang Johari highlighted that the State has expended RM5.263 billion or 69 per cent out of the total development budget of RM7.609 billion as of October this year.

“With the re-opening of the economy and normalisation of economic activities, expenditure is expected to increase further as development momentum continues to pick up towards the end of the year,” he stated. — DayakDaily