The financial performance of the Penang government is still strong with the consolidated balance of the Consolidated Fund at the end of 2022 amounting to RM1.859 billion compared to RM2.117 billion at the end of 2021.
According to the Auditor General’s Report on the Financial Statements of the State Government and State Agencies and the Compliance of Penang State Departments/Agencies in 2022, a total of 2,420 projects had been planned to be implemented in 2022 and of these, a total of 2,332 projects or 96.4 per cent have been fully completed.
In the meantime, the state government’s public debt, which consists of debt to the federal government to finance development projects, shows a balance of RM41.11 million at the end of 2022 compared to RM45.41 million (2021), which is a drop of RM4.30 million (9.5 per cent).
In a statement today, Chief Minister Chow Kon Yeow said the report stated that the decrease in debt was due to no new loans applied and loan repayments done on schedule.
“In fact, I was also informed that the Penang Government recorded no new loans from the Federal Government since 2016,” he said.
In addition, he said, Penang still maintained financial management with integrity when it received a Clean Certificate, i.e. a Certificate of Opinion Without Criticism (With Other Matter Paragraphs) from the Auditor General for the 2022 financial statements.
He added that the recognition received today proves that the state government has successfully maintained the recognition of the Auditor General’s Clean Certificate as in previous years.
“On behalf of the Penang Government, a wreath of appreciation is expressed to the Auditor General and the Penang State Audit Department for the certification of the Auditor General in 2022.
“At the same time, appreciation is also expressed for the full commitment of all state and federal agencies in realising the recognition received. The Penang Government will continue to strive to find new results in strengthening the state’s development performance,” he said.
Source: BERNAMA News Agency
