Malaysia budget 2027: Five things you need to know
Despite tabling a higher budget, the government expects Malaysia’s fiscal deficit to decline to 3.3 per cent in 2027, progressing toward the target of 3 per cent by 2028.
In Malaysia's 2027 budget, the government expects to reduce the fiscal deficit to 3.3 percent, moving towards the target of 3 percent by 2028. The budget, worth RM459.8 billion, includes higher minimum wages, support for gig workers and farmers and tax relief for middle-income earners. Malaysians could receive up to RM1,600 in extra disposable income through lower tax rates and higher tax relief.
The budget aims to improve the welfare of e-hailing and p-hailing workers, with a jointly funded RM160 million package. Farmers will also receive aid, and middle-income earners will benefit from lower personal income tax rates and higher tax relief thresholds.
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