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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