Budget 2027 must turn economic growth into higher wages, says Akmal
BUDGET 2027 should place greater emphasis on raising Malaysians’ wages and incomes so that economic growth translates into better living standards, Economy Minister Akmal Nasrullah Mohd Nasir said. He said it was time for the issue of workers’ earnin...
Malaysian Economy Minister Akmal Nasrullah Mohd Nasir has emphasized that the 2027 Budget should prioritize increasing wages and incomes to ensure that economic growth translates into tangible gains for workers. He stated that it is time to make workers' earnings a central focus in budget discussions, with a clear commitment to improving wage levels.
Akmal urged discussions on income and wages to become a priority, highlighting the need for companies to create more high-skilled jobs and offer higher wages. The government should also focus on strengthening the economic structure and expanding high-growth, high-value industries to boost Malaysian companies' capabilities beyond traditional manufacturing.
Recent positive developments in various industries and continued economic growth despite global geopolitical uncertainty provide the government with an opportunity to give greater attention to Malaysians' incomes. The Progressive Wage Policy, currently set to run until the end of 2027, is set to undergo a comprehensive assessment by the end of this year or early next year to determine its effectiveness in raising workers' wages.
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