Malaysia Ministry of Economy to finalize Budget 2027 proposals by mid-August

The Malaysian Ministry of Economy is in the final stages of screening development proposals for Budget 2027. Economy Minister Akmal Nasrullah Mohd Nasir stated that the process is expected to be completed by mid-August, after which the findings will be submitted to the Ministry of Finance.

The budget preparation aims to align national development needs with economic growth agendas and the implementation of the 13th Malaysia Plan (RMK-13). Key areas of focus include strengthening infrastructure, accelerating the development of high-growth and high-value industries, and addressing both new allocations and ongoing or extension projects.

Additionally, the government has expressed readiness to allocate RM12.3 million over four years for a STEM (Science, Technology, Engineering, and Mathematics) pilot project in Penang. This initiative aims to prepare the local workforce for industry needs and improve job opportunities and wages for local residents.