KUCHING: Sarawak is determined to remain resilient and ensure continued economic growth despite facing global uncertainties, particularly due to trade wars and fluctuations in global oil prices.

Sarawak Premier, Datuk Patinggi Tan Sri (Dr) Abang Abdul Rahman Zohari Tun Datuk Abang Openg said the Liberation Day tariffs imposed by the United States had minimal impact on Sarawak, as the country is not a major trading partner of the region.
However, he noted that Sarawak was still indirectly affected by global trade tensions and the drop in oil prices to about USD65 per barrel between April and May 2025, which impacted revenues from the oil and gas sector.

“Current projections estimate that oil prices will average USD66 per barrel in 2025 and USD59 per barrel in 2026,” he said during his winding-up speech at the 19th Sarawak Legislative Assembly (DUN) Sitting on Wednesday.

Nonetheless, the Sarawak Premier expressed confidence that oil prices will gradually recover as global demand improves.
“Although the global economic outlook remains uncertain, we are confident that with Sarawak’s resilience and sound development strategies, the state will continue to thrive,” he stressed.

Datuk Patinggi Abang Zohari added that Sarawak will continue to strengthen its economic initiatives and diversify beyond the oil and gas sector to ensure a more robust and shock-resistant economy. -UKASnews