An Outcome-Based Budget in Line With Penang2030

By Ong Wooi Leng

January 2024 FEATURE
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THE 2024 PENANG STATE BUDGET, presented by the Chief Minister in November 2023, amounts to RM1.42bil, RM1.05bil of which are allocated for operating expenses and RM374.72mil for development expenses.Having one of the largest budget deficits tabled in recent years, it is geared towards supporting operational and development projects that will contribute to the state’s socio-economic growth and ensure the realisation of the Penang2030 vision.COVID-19 Exacerbates DeficitsPenang’s financial performance has generally been in surplus for the past two decades, with the...

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References
  • [1] A 5% levy is imposed on federal projects carried out by state agencies and personnel.
Ong Wooi Leng

heads the Socioeconomics and Statistics Programme at Penang Institute. Her work lies in labour market analysis and socio-economic development.

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