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KOTA KINABALU – The Sabah government is predicting better economic recovery for the years 2022 and 2023, with projected growths of 4% and 5% respectively, said Chief Minister Datuk Seri Hajiji Noor.
The improving economy is driven by the implementation of numerous development programmes, particularly high-impact projects, and further investments in Sabah, he said in a statement here today.
“Despite the uncertain global and national economic conditions, Sabah’s economy is currently on the right track towards recovery, recording a positive growth rate of 1.1% in 2021 compared to a contraction of 9.2% in the previous year.”
“This achievement is supported by the strong performance of the state’s trade following the positive increase in Sabah’s export activities,” he said in a speech in conjunction with the Half-Term Review Session of the 12th Malaysia Plan (12MP). The session was organised by the federal Economy Ministry together with the Sabah government at the Sabah International Convention Centre today.
The speech was delivered by Deputy Chief Minister cum Sabah Works Minister Datuk Shahelmy Yahya on Hajiji’s behalf.
Also present were Economy Minister Rafizi Ramli, a delegation from the ministry, state administrative members, state and federal civil servants, industry players, representatives from civil society organisations, representatives from non-governmental organisations, academics, and representatives of higher education institutions.
The state had previously seen dismal economic performance due to the two-year nationwide Covid-19 lockdown.
Hajiji said the state’s development agenda is based on the Strategic Direction for State Development under the 12MP, with the objective of achieving a “prosperous, inclusive, and sustainable Malaysia.”
He said the focus and priorities of developments had been identified through the Strategic Direction, covering the economic, social and well-being of the people.
Hajiji said these projects are also in tune with the state’s Sabah Maju Jaya five-year plan.
Putrajaya has approved RM14.976 billion for Sabah to fund projects under Rolling Plan 1 until Rolling Plan 3 of the 12MP to date.
The allocation is intended to finance the implementation of 3,436 development projects through various ministries, including 1,181 new projects and extensions approved until Rolling Plan 3.
“The implementation of these projects will not only stimulate state development and economic growth but also benefit the prosperity and well-being of the people,” said Hajiji. – The Vibes, June 27, 2023