Penang’s finances back on track after RM100mil advance, says Chow
After a tighter control on expenditure and a RM100 million advance from Putrajaya, chief minister Chow Kon Yeow said Penang’s finances are finally “back in the black”.
He told the state assembly that strict spending control and increased land charges had helped stabilise the state’s finances, which came under scrutiny earlier this year.
Chow said the state’s deficit for 2025 was now estimated at RM33.6 million, with the 2026 budget projecting a further drop to RM19.9 million, compared with a deficit of RM514.5 million in 2024.
He also said that the state was on track to collect more than RM1 billion in revenue this year, a level last reached in 2016, when Penang recorded RM1.029 billion in income.
“We see the results of the steps taken to raise land tax and premiums, and to control spending,” he…
