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GEORGE TOWN: The Penang government has tabled a RM940.2 million budget for 2025, which is slightly lower than this year’s RM1.047 billion.
The budget also features a record-low deficit of RM33.6 million, compared to RM514.5 million in 2024.
Of the total, RM220 million will go to development projects, including those under the Penang Transport Master Plan, the Silicon Island reclamation project, and road and civil-related works surrounding the Penang International Airport expansion.
Chief minister Chow Kon Yeow said the smaller budget and reduced deficit show the state’s focus on prudent spending, especially as revenues continue to decline.
He said that as of Jan 1 next year, the balance in the consolidated funds is projected to be about RM50 million, a significant drop from RM330.03 million at the end of 2023.
“Through prudent financial management, the state remains steadfast in its commitment to fostering economic growth and improving the socio-economic development of the people,” he said when tabling the budget in the state assembly.
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