Kuala Lumpur:Prime Minister Datuk Seri Anwar Ibrahim, who also serves as Finance Minister, is set to present the 2027 Budget in the Dewan Rakyat at 330 pm today. This will be the fifth budget under his MADANI Government, focusing on ensuring equitable growth for the population while bolstering the nation's economic resilience.
According to BERNAMA News Agency, the 2027 Budget will be broadcast live on various local television stations and social media platforms, including Bernama TV, which will also air a Budget 2027 Analysis program at 830 pm tonight. The Finance Ministry's pre-budget statement indicates that Budget 2027 is designed to build upon the strong foundation laid by previous budgets.
As the second budget under the 13th Malaysia Plan, it aims to continue the three MADANI Economy pillars raising the growth ceiling, improving living standards, and driving reforms in public administration governance. The Finance Ministry stated that Malaysia's economy has remained resilient due to bold structural reforms, including fiscal consolidation and targeted subsidy rationalization, despite ongoing global geopolitical challenges and supply chain disruptions.
The ministry has outlined ten key focuses for Budget 2027, which include reducing regional disparities, providing targeted assistance to address the cost of living, such as the Sumbangan Tunai Rahmah (STR) and BUDI MADANI programs, enhancing the social safety net for gig workers, and preparing for an ageing population by 2030.
Other priorities include improving basic services like education and healthcare, promoting technology-driven public sector transformation through Government Technology (GovTech), ensuring workers' welfare with dignified wages, empowering local entrepreneurs with the 'Made by Malaysia' initiative, and investing in high-value sectors like semiconductors and artificial intelligence (AI).
In a post on X yesterday, Anwar expressed optimism that Budget 2027 would further reinforce the country's economic resilience, alleviate the cost of living challenges, create more opportunities, and ensure equitable distribution of development benefits across all societal segments.
According to official Parliament portal, the Supply (Budget) Bill 2027 will undergo policy stage debate for eight days starting next week. The winding-up by relevant ministries is scheduled from October 26 to 29, followed by the committee stage debate from November 2 to 26, before the Bill is passed in the Dewan Rakyat.