Penang Tables 2015 Budget, Expects Profits To Rise 11%

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GEORGETOWN, Nov 7 –The Penang government today tabled a RM992.82-million budget for 2015 with a deficit of RM230.31 million. The budget for next year is 3.18% higher than this year’s RM962 million. Chief Minister Lim Guan Eng said, while tabling the budget at the assembly, the estimated deficit for next year is RM25.13 million less than this year’s RM255.44 million.

He said the expected revenue for 2015 is RM656.93 million, an increase of 11.77% over this year’s revenue of RM587.75 million. The Pakatan Rakyat-led government had been tabling deficit budgets annually since the 2011 state budget. In 2011, the deficit was estimated at RM107.78 million; and RM213.71 million in 2012. In the 2013 state budget, the state estimated a RM262.04 million deficit. This year’s budget was tabled with an estimated deficit of RM255.44 million.

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