KUCHING: Sarawak’s Budget 2017 will likely be development-bias, with a ratio of 70:30 for development and recurrent expenditure.
Chief Minister Datuk Patinggi Tan Sri Adenan Satem said other states do not have that kind ratio in their budget, not even the national budget which is quite the opposite.
“The budget this year amounted to RM5.97 billion and development expenditure amounted to more than 74 per cent of the total allocation,” he said
at the inaugural Development Bank Infrastructure Forum held at Pullman Hotel here yesterday.
His text of speech was read by Deputy Chief Minister Tan Sri Datuk Amar Dr James Masing.
“The allocation of RM2.65 billion for rural development reflects the state government’s commitment to give greater focus on programmes and projects to further accelerate rural transformation for the benefit of rural communities,” he said.
Adenan believed that Sarawak’ Budget 2017 would largely retain the same theme as in the previous years and continue to be development-biased.
“It is important that the infrastructure-focus policies continue on until 2020 and even beyond and the State Budget 2017 will not lose track of this sight,” he assured.
While Sarawak is leading in the oil and gas and energy sector, Adenan pointed out that the state also holds great potential in other areas that have thus far remained largely underdeveloped, such as tourism, communications, infrastructure and the agriculture sectors.
“When you compare us to other states, we still have plenty of room to grow in terms of infrastructure development. Owing to our massive land size, scattered population and low population density, many rural areas are still largely deprived of basic needs such as roads, water, electricity supply and accessibility to healthcare and education,” he said.
To achieve Sarawak’s aspirations to become an economic powerhouse, Adenan added that the government had implemented several major infrastructure and economic projects in recent years which resulted in a healthy contribution to the nation’s GDP growth.
Sarawak, he stressed, was on track to become a very important regional development corridor as it has consistently performed well in attracting investments, both foreign and domestic.
“The achievement is not by chance but the result of the hard work and efforts coupled with business-friendly policies of the state government. We take great pride in this achievement, which reflects our resilience and the strength of our social structure and political will,” he added.
Adenan was happy to note that policymakers, bankers, economists, corporate leaders and many others participated in the forum that was dedicated to explore and debate challenges, opportunities and economic benefits of infrastructure in Sarawak as well as to seek ways to mobilise infrastructure funding for the state.
“Your presence certainly underscores our common desire to see that Sarawak can catch up with the rest of the country, Peninsular Malaysia in particular, in the standard of infrastructure facilities,” he said.
Meanwhile, the one-day event, jointly organised by Malaysia Development Bank (BPMB), CIMB Group Holdings Berhad and RAM Rating Services Berhad, drew some 100 participants from various private and government agencies.