GEORGE TOWN, Jan 19, 2016:
There is no need for Penang to recalibrate the 2016 State Budget even if it is a deficit budget, says Chief Minister Lim Guan Eng.
Lim said even though Penang may have tabled a deficit budget, it has always recorded surpluses by the end of the year.
“We don’t need to recalibrate the budget because we don’t rely on GST (Goods and Services Tax) and we don’t have any leakages,” Lim told a Press conference at his office in Komtar here today.
Lim also pointed out that the state had never tabled a supplementary budget.
“The supplementary budget is tabled when the budget is wrong.
“Penang has been consistent in recording surpluses every year end as verified by the Auditor-General’s report since Pakatan took over Penang,” he said.
Meanwhile, the federal government is expected to table a 2016 Budget recalibration on Jan 27 in Parliament.