Sarawak’s revenue drops to RM5.91b on lower dividends
KUCHING: Sarawak registered a total revenue of RM5.91 billion last year compared with the RM6.955 billion the state collected in 2015.
State Second Finance Minister and International Trade and eCommerce Minister Datuk Seri Wong Soon Koh said the drop of RM1.045 billion, or 15 per cent, was mainly due to lower dividends the state received from oil and gas companies and lower cash compensation in lieu of oil and gas rights.
In his winding up speech at the 18th State Legislative Assembly sitting, here, yesterday, he said the total ordinary expenditure last year was RM5.564 billion.
“Of this amount, RM2.264 billion was operating expenditure and RM3.3 billion was appropriated to replenish the Development Fund Account.
“Annual operating expenditure has continued to rise. For last year, operating expenditure increased to RM2.264 billion from RM1.889 billion in 2015, a rise of RM375 million, or 20 per cent,” he added.
Wong said development expenditure for last year amounted to RM3.919 billion with RM1.925 billion for rural development.
For the first quarter of this year, the state recorded revenue of RM1.852 billion, which was 35 per cent of the total estimated revenue of RM5.320 billion for the year. Bernama