THE Penang government is set to present its 2025 Budget on Nov 22, with a focus on achieving a balanced financial outlook in light of recent deficits, announced Chief Minister Chow Kon Yeow.
“The upcoming Budget will emphasise balancing our finances.
“Our primary aim for the next year is to strengthen revenue streams and diversify sources of income,” Chow replied to a journalist after closing the Penang Go Digital Carnival at PICCA Convention Centre @ Butterworth Arena today.
While efforts to reduce spending are not anticipated, Chow highlighted that sufficient funding would be crucial to achieving a balanced Budget without compromising the state’s development initiatives or public welfare.
“The challenge lies in securing revenue to narrow the deficit gap while ensuring that our people’s welfare and ongoing development projects are not compromised,” he added.
The Budget, which is still being finalised, aims to introduce new revenue sources to support planned initiatives.
According to Chow, about 20% of the state’s income will be allocated to public welfare initiatives, reflecting the government’s continued commitment to the well-being of its people.
Story by Christopher Tan
Pix by Darwina Mohd Daud
Video by Noor Siti Nabilah Noorazis