Uggah: 23rd clean certificate for S’wak’s public accounts, top international and national investment credit ratings

KUCHING (Dec 3): Sarawak has received a clean certificate for its public accounts for the financial year 2024, said Deputy Premier Datuk Amar Douglas Uggah Embas.

The Second Finance and New Economy Minister said this marks the 23rd consecutive year of such recognition, a clear testament to the state’s sound governance and prudent financial management.

“Sustaining this achievement over more than two decades reflects our unwavering dedication, professionalism, and commitment; an accomplishment that truly deserves commendation.

“I wish to acknowledge the dedication of state civil servants in maintaining high standards of governance and discipline in financial management. Your professionalism and integrity are central to our institutions’ credibility, ensuring that public resources are managed responsibly and in a transparent manner,” he said in his ministerial winding-up speech at the State Legislative Assembly (DUN) here.

Uggah said Sarawak’s capacity to undertake major development projects while preserving fiscal resilience is duly reflected in its commendable investment credit ratings.

“Moody’s and S&P have reaffirmed Sarawak’s commendable investment credit rating of A3 and A- with a stable outlook respectively, while RAM has reaffirmed our credit rating at AAA.

“These ratings are a testament to the confidence placed in the state’s prudent fiscal management, robust reserves, disciplined budgeting practices, and strong governance framework,” he said.

He added these affirmations enable the state to secure strategic financing on favourable terms and implement strategic projects in a prudent and accountable manner.