The Sarawak Chief Minister Datuk Patinggi Abang Johari announced the Budget 2022 yesterday for Sarawak that focuses on the continued protection and restoration of the livelihoods of the citizens.

A new assistance program, the Housing Deposit Assistance Scheme, will be launched next year to assist eligible homebuyers to pay for housing deposits.

RM10 Million for Low and Middle-Income Homebuyers

He added that the Sarawak government will allocate RM10 million to provide B40 and M40 home buyers with cash assistance of RM10,000 for payment of housing deposits, which will be managed by MUTIARA. It is estimated that about 1,200 home buyers can benefit from it.

In addition to focusing on people's lives and livelihoods, the key strategy of the Budget 2022 Sarawak is to guide economic recovery. In this regard, the chief said that the imbalance between urban and rural areas must be resolved.

Over 1.1 billion to strengthen infrastructure

In response, the Sarawak government will use RM4.803 million or 64% of the total development expenditure to implement rural infrastructure plans and people-oriented plans. This can help create more jobs and business opportunities.

Next year, RM1.18 billion will be allocated to strengthen infrastructure construction, such as roads, bridges, ports and riverside construction facilities. Under the alternative funding measures, major construction projects such as road networks, airports, and urban traffic projects will continue to be implemented next year. Provide a better connection between agriculture and other social and economic development in rural areas.

In order to continue to strengthen the facilities and equipment of the industrial park, the government will allocate 124 million ringgit in the Saudi budget next year to promote the industrialization plan of sand.

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The Budget 2022 for Malaysia will be tabled on the 29th. We will be sharing the real estate initiatives here on Property Hunter so stay tuned and follow our Facebook for instant notifications on Budget 2022.