KOTA KINABALU, Nov 24 — The Sabah state government has tabled a RM5.701 billion Budget for 2024, with a surplus of RM35.87 million.
State Finance Minister Datuk Seri Masidi Manjun said the state has proposed an estimated revenue of RM5.737 billion and an estimated supply expenditure of RM5.701 billion under its budget for next year.
“From the RM5.701 billion supply budget, RM4.751 billion will be utilised for operating expenditures, and RM950 million will be used as contributions to the development trust fund.
“This Budget is particularly formulated to uplift the well-being of the people through continuous development programmes. The state government is committed to preparing a holistic and inclusive Budget,” he said during the Budget tabling at the state assembly here today.
The minister said the estimated revenue of RM5.737 billion would comprise tax revenue of RM2.636 billion; RM2.372 billion in non-tax revenue, including petroleum royalties, and non-revenue receipts of RM729.10 million.
Masidi said the state’s revenue is still largely dependent on petroleum crude oil (CO) and crude palm oil (CPO), and although prices of these commodities had fallen, the revised revenue estimate for 2023 is at RM6.419 billion.
“The state’s 2024 revenue is expected to decline due to uncertain geopolitical and economic climate, impacting the price of CO and CPO commodities in the global market.
“Therefore, the state government took a semi-conservative approach in preparing the estimated 2024 revenue so that its financial position remains strong,” he said.
Masidi said RM1.328 billion had been allocated for development expenditure, where RM847.23 million is from state allocations and RM480.46 million in the form of federal loans and reimburseables.
He said RM555.60 million, or 65.58 per cent of the development expenditure, will be channelled to the economic sector, RM272.99 million (32.22 per cent) to the social sector and RM18.64 million (2.2 per cent) to the general administration sector.
Regarding the operating expenditure allocation, Masidi said RM808.06 million had been allocated as emolument expenditure to finance the salary of civil servants.
“RM2.203 billion is proposed for recurrent expenditure, including to fund state government scholarships, and RM1.74 billion is allocated for special expenditure such as addressing food security and public infrastructure issues,” he said.
Masidi also said the state government had agreed to a special financial assistance of RM2,000 to all civil servants in Sabah, including temporary, contract and daily paid workers.
He said financial assistance will be paid in two stages, with RM1,000 to be paid in January 2024 and another RM1,000 before Hari Raya Aidilfitri.
“I hope this incentive will further motivate the state civil servants to serve with enthusiasm and strive even harder in order to enhance the quality of service delivery to the people,” he added. — Bernama
