Budget 2027 to fortify Malaysia against global economic shocks

The Malaysian government is set to utilize Budget 2027 to bolster economic resilience and maintain growth within the projected four to five percent forecast, according to Deputy Economy Minister Datuk Seri Mohd Shahar Abdullah. Despite the second quarter GDP expanding by six percent, the government remains cautious and is actively monitoring developments through various channels.

This includes regular meetings of the National Economic Action Council, where industry representatives share their insights with policymakers. The focus is not limited to a single sector but encompasses all sectors to gain a comprehensive understanding of the current situation and stakeholders' perspectives. The government's emphasis is on the 13th Malaysia Plan, a five-year development blueprint, with the budget serving as a short-term strategy to manage any potential impacts from global crises.

The Pantau Krisis dashboard, developed in collaboration with the Department of Statistics Malaysia, enables the government to obtain real-time information on West Asia developments, including the Strait of Hormuz situation, to ensure preparedness for potential economic disruptions.