GEORGE TOWN, Nov 20 — The Penang state government is on track to record a budget surplus this year and is optimistic of achieving over RM1 billion in revenue for the first time since 2016, Chief Minister Chow Kon Yeow announced today.

Speaking at the state legislative assembly, Chow revealed that revenue collection had already reached RM924.1 million as of Nov 18, surpassing the full-year target for 2025 of RM906.59 million.

“The state government is optimistic about achieving a total revenue collection exceeding RM1 billion before the year-end account closing,” he said. 

The last time the state surpassed this milestone was in 2016, with RM1.029 billion.

Chow attributed the strong performance to the state’s effective financial management, including enhanced revenue collection measures, prudent expenditure control, and careful fiscal planning.

He added that this prudent approach has allowed the state to table a budget for 2026 with a projected deficit of just RM19.91 million, a significant reduction compared to the deficits of previous years, including the RM514.53 million recorded in 2024.