Jumlah Peruntukan Perbelanjaan Penang Semakin Tinggi Dipersoalkan.

Penang Yearly State Expenses

2007- RM270 million
2008 - RM283 million
2009 - RM299 million 
2012 - RM540 million
2013 - RM 832 million

"We spent RM832.42 million for expenses last year compared with RM540.08 million for the same period in 2012," Lim Guan Eng said.

This is what I have been warning about time and time again and that time I only said doubled. (look: http://tinyurl.com/ks42z3f )

Not only did yearly state expenses jumped a massive 54% in JUST one year but it has TRIPLED since 2008.

I wonder what people would say if Federal Govt yearly expenses had done the same and tripled since 2008 or jumped 54% from 2012 to 2013?

Penang's expenses growth is unsustainable! 

Their tax revenues have only grown marginally since 2008 (RM110mil) and Lim Guan Eng says they only expect tax revenues of RM130mil in 2015 with most of it coming from billions and billions of state land sales.

Although he had denied many times in the past that the state govt is not covering the increasingly large operating deficit using land sales, he has finally admitted it and saying that 

"The RM69.18 million increase in state revenue for next year is expected to come from land premium payments, namely from developments Bayan Mutiara and Batu Kawan," 

But this is also only part of the story as this is for land premium payments (tax) and not non-tax revenue from the actual land sales itself.

According to Gerakan, there were 12% of land in Penang still belonging to the state govt when they left govt in 2008 and 8% was left end of last year. There were also many land sales in 2014 alone so this figure would probably be about 5-6% of land left in Penang owned by the state govt.

So what happens to Penang when all the land has been sold?

http://www.themalaysianinsider.com/malaysia/article/penang-tables-rm992-million-2015-budget-expects-profits-to-rise-11