Budget 2027 To Focus On Economic Resilience, Protecting People's Well-being -- Amir Hamzah
PUTRAJAYA, Aug 18 (Bernama) -- Budget 2027 will continue to focus on efforts to strengthen the nation’s economic resilience, protect the people’s well-being and implement measures to enhance fiscal sustainability, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said the budget will take into account the global economic uncertainties and the people’s increasing expectations of the government’s delivery.
"The government remains committed to strengthening the country's economic competitiveness by encouraging high-quality investments, increasing productivity and accelerating the development of strategic sectors that are capable of generating added value, high-income jobs and sustainable economic growth.
“Focus will continue to be directed towards sectors such as semiconductors, energy transition, the digital economy, artificial intelligence (AI) and Islamic finance,” he said in his speech at the Budget 2027 engagement session here today.
Additionally, he said the government will empower micro, small and medium enterprises (MSMEs) and startups as drivers of the domestic economy through increasing access to financing, digitalisation, innovation and market expansion, enabling more local products and services to penetrate the global value chain as ‘Made by Malaysia’.
The government will also foster a culture of innovation, research, and technology commercialisation to drive economic growth fueled by value creation, said Amir Hamzah.
At the same time, the government remains focused on improving service delivery to the people, in line with the 13th Malaysia Plan (13MP) agenda to strengthen the education system, enhance the quality of healthcare services, and empower human capital development as the foundation for inclusive economic growth.
“The government appreciates the roles played by the non-governmental organisations (NGOs), civil society organisations and strategic partners in ensuring that aid and social interventions are delivered more comprehensively, particularly to vulnerable groups.
“This cooperation is vital to strengthen the social protection network so that no group is left behind in the nation's development,” he said.
Amir Hamzah added that the government consistently prioritises efforts to raise the people's income, expand quality job opportunities, and address cost-of-living challenges through targeted and sustainable approaches.
He emphasised that Budget 2027’s main objective is to ensure that the benefits of economic growth are felt more inclusively across all segments of society.
To ensure good governance, the government is also striving to strengthen the business ecosystem by improving regulations, facilitating investments, digitising service delivery, and reducing bureaucratic red tape, all with the aim of further enhancing the nation's competitiveness.
Budget 2027, themed "Malaysia MADANI: Reaching for the Skies, Rooted in the Earth (Menggapai di Langit, Mengakar di Bumi)," is scheduled to be tabled in Parliament on Oct 9.
The Budget 2027 engagement session was also attended by Deputy Finance Minister, Liew Chin Tong; Secretary-General of the Treasury, Tan Sri Johan Mahmood Merican; Governor of Bank Negara Malaysia, Datuk Seri Abdul Rasheed Ghaffour; Secretaries-General; heads of service; senior government officials; representatives from industries, associations, and NGOs; as well as economic figures and scholars.
-- BERNAMA