(Kuching, 11th) Sarawak is expected to achieve a revenue of nearly RM14 billion this year, marking the highest income in the state's history.
Sarawak's Prime Minister Datuk Patinggi Tan Sri Abang Johari announced that based on current performance, Sarawak's 2024 income is expected to surpass RM13.3 billion in 2023.
He stated this when presenting the 2025 Sarawak Budget Bill during the second session of the third quarter of the Sarawak Legislative Assembly today: "As of October 2024, Sarawak's revenue is RM12.2 billion, which accounts for 87% of this year’s forecast."
The RM12.2 billion collected so far mainly comes from state sales tax (SST) revenue of RM4.4 billion, followed by RM3.6 billion from petroleum products.
Other major sources of income include crude palm oil and palm kernel oil (RM705 million), aluminum (RM68 million), lotteries (RM61 million), timber products (RM27 million), and coal (RM5 million).
Additional sources of income include RM2.7 billion in cash compensation for oil and gas rights, RM2 billion in dividends, RM1 billion in interest and investment returns, and RM554 million in raw water usage fees.
Land premium income amounts to RM191 million, with import cash compensation and excise revenue from petroleum products totaling RM120 million, forestry revenue RM214 million, and federal grants and reimbursements amounting to RM554 million.
Other incomes include mining rights fees, water sales, and land rent, totaling RM507 million.