Budget 2027: Cost of living to take centre stage as government weighs global risks

Budget 2027 will place a significant emphasis on addressing the cost of living concerns faced by Malaysian households, as the government prepares measures to tackle rising expenses amid a volatile global geopolitical landscape. The Madani government is set to take into account external developments, particularly fluctuations in global crude oil prices, when formulating its budget priorities.

Fahmi Fadzil, the spokesman for the Madani government and Communications Minister, emphasized that ensuring comprehensive solutions for the people's cost-of-living issues will be a central focus of Budget 2027, taking into account the unresolved geopolitical situation.

Fahmi, who also serves as Communications Minister, stated that factors such as crude oil prices, typically serving as benchmarks, will be among the considerations in the upcoming budget. This suggests that the government will prioritize projects capable of delivering immediate benefits to households and communities, alongside longer-term economic initiatives aimed at resolving problems faced by the people in the shortest possible time.

In addition to addressing cost-of-living pressures, the government will continue its efforts to attract both domestic and international investment while supporting the implementation of the 13th Malaysia Plan. Fahmi highlighted expanding internet access as a priority, particularly in remote areas, to improve connectivity and provide underserved communities with better access to digital services.

The Communications Ministry is also exploring media sustainability issues and incentives to attract more international events and film productions to Malaysia, with initiatives such as CIME and FIMI being discussed in relation to attracting more investors.