S’wak record RM11.9 billion revenue in 2022 – Premier
KUCHING: Sarawak’s revenue for the financial year 2022 was a record RM11.9 billion, surpassing the projected revenue of RM10.2 billion by 17 per cent and the highest revenue performance for the state to date.
In announcing this yesterday, Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the state’s revenue comprised tax revenue, non-tax revenue, non-revenue receipts, and federal grants and reimbursements.
He said tax contributed RM6.7 billion or 56 per cent of the total revenue, while the other categories made up 44 per cent.
Under the tax revenue category, he said the State Sales Tax (SST) contributed 84 per cent or RM5.6 billion of the total tax revenue collected.
“The taxable products under SST, among others, comprise of oil and gas products, oil palm products, and aluminium. The improved performance in SST collection was due to higher market prices in 2022 for oil and gas products and oil palm products,” Abang Johari said.
He explained that prior to the introduction of SST on oil and gas products, particularly for the financial year 2018, the revenue collected was RM7.2 billion.
Therefore, the revenue performance for the financial year 2022 saw an increase of 65 per cent compared to that of 2018, he pointed out.
He added the state government will continue to study and look into various key initiatives to increase Sarawak’s revenue through enhancing, widening, and diversifying its revenue sources.
He said last year, various initiatives were introduced such as enforcing Sarawak’s dividend policy on statutory bodies and government-linked companies, as well as imposing SST on coal.
These efforts are imperative as the Sarawak government continues to vigorously pursue its development agenda and for the state to become a highincome economy by 2030 as clearly outlined in the Post-Covid-19 Development Strategy (PCDS) 2030, he stressed.
When asked about the federal government’s RM300 million special grant to Sarawak announced last month, Abang Johari said it was not included in the 2022 state revenue as the grant is for this year.
“That one (RM300 million) is not included. This one (revenue announcement) is 2022. What I am saying here is we budgeted, estimated is RM10.2 billion for 2022 but it turns out to be RM11.9 billion actual revenue we received last year.
“The RM300 million is not included. That one is only this year. Must be clear, this one not included for last year, 2022 (revenue),” he stated.
He added that based on the increase in the special grant, the state expects revenue for 2023 to be more than RM12 billion, and stressed that the state’s 2022 revenue was beyond expectations.
On Jan 20, Prime Minister Datuk Seri Anwar Ibrahim said the federal government had agreed to increase the amount of the special grant for Sabah and Sarawak under Article 112D of the Federal Constitution.
He said the special formula for the annual grant had yet to be finalised but for a start the Finance Ministry would raise the amount to RM300 million for Sarawak, while Sabah would receive RM260 million.
The taxable products under SST, among others, comprise of oil and gas products, oil palm products, and aluminium. The improved performance in SST collection was due to higher market prices in 2022 for oil and gas products and oil palm products.
Datuk Patinggi Tan Sri Abang Johari Tun Openg