THE Gabungan Rakyat Sabah (GRS)-led Sabah government is optimistic that the State is able to continue its momentum of recovery in all aspects to boost the State’s economy.
Kota Kinabalu: Sabah still managed to record its highest revenue collection at RM6.971 billion in 2023 – an increase of RM11 million the previous year – despite declining prices of crude palm oil (CPO) and crude oil (CO) last year,
State Finance Minister Datuk Seri Masidi Manjun said with 68 per cent of the State’s revenue contributed by CPO and CO, Sabah’s revenue collection was initially slated to be lower by RM566.3 million in 2023 compared to 2022.
THE State Ministry of Industrial Development and Entrepreneurship (Mide) was allocated RM41,675,439.74 under the last State budget for distribution among various agencies such as Sabah Economic Development Corporation (Sedco), Kota Kinabalu Industrial Park (KKIP Sdn Bhd), POIC Sabah Sdn Bhd and Sabah Oil & Gas Development Corporation Sdn Bhd (SOGDC Sdn Bhd).
The total spent to date was RM20,666,968.90.