GEORGE TOWN: Penang today tabled its 2023 Budget, which projected a higher deficit of RM467.12 million compared with RM449.80 million.
This is its 13th consecutive deficit budget since 2011.
Chief Minister Chow Kon Yeow said the state 2023 Budget was drafted with full awareness so as to realise its plans factoring financial constraints.
"As a concerned government, the essence of the budget emphasises the agenda of stimulating the state's economic growth and socio-economic development as well as improving the people's wellbeing.
"The state government promises to continue governance practices based on the principles of Competency, Accountability and Transparency (CAT) to maintain Penang as a state with clean and dynamic leadership," he said when tabling state's 2023 Budget at the state legislative assembly sitting here today.
Elaborating, Chow said, that with an expected state revenue of RM522.35 million and expenditure of RM989.47 million, the state's 2023 budget was projected to record a deficit of RM467.12 million.
"The estimated deficit will be financed by the state consolidated fund, which has a balance of RM848.82 million as at the end of 2021.
"Penang's overall reserve, at the end of last year is RM2.117 billion," he added.
Meanwhile, Chow announced the granting of a premium discount for the extension of land leasehold periods and also for ownership due to the end of the leasehold period.
"The determining factor of the land premium in Penang is based on the current land market value.
"On the extension of the leasehold tenure, the state government has agreed to grant a premium discount from as low as 50 per cent up to 90 per cent, which is assessed on the current land value only without factoring in the structures on the land," he added.
Meanwhile, Chow said the state government was fortunate to have civil servants, who are dedicated, have integrity and are committed to ensuring that the policies of the state government are implemented successfully.
He said the commitment given helped the state to maintain good service performance to the public.
"To appreciate the contributions of civil servants and boost their spirit to continue to serve with excellence, I have approved a Bantuan Khas Kewangan (BKK) payment at year end equivalent to half a month's civil servant salary or a minimum of RM1,200.
"This payment involves 3,920 state civil servants with amounting to RM6.13 million.
"All BKK payments as well as grants will be made in December," he said.
Chow said as in previous years, a grant of RM300 per person would be channeled to Al-Quran dan Fardu Ain Class supervisors and teachers, Sekolah Rendah Agama Rakyat teachers, Sekolah Menengah Agama Rakyat teachers and teachers and staff of private Chinese schools.
He said a grant of RM200 per person would also be given to the teachers of tahfiz and pondok schools and Islamic kindergartens (TADIS) in the state.
"The state government aims to develop Penang sustainably, which will contribute to increasing employment, business and investment opportunities as well as economic growth to improve the standard of living of the people.
"In addition, the interests of the people of Penang are always safeguarded through inclusive and holistic government policies, where the preparation takes into account the views of all stakeholders, particularly members of parliament, state assemblymen, government agencies, the private sector, non-governmental organisations, academics and community representatives.
"Let us continue to shoulder the trust with full responsibility to build a strong state economy through the budget," he added.