Anwar: Budget 2027 will balance fiscal discipline with cost-of-living relief

PUTRAJAYA, Oct 10 — Prime Minister Anwar Ibrahim has emphasized that the 2027 Budget represents more than just figures; it is a promise to the people, a covenant between the nation and its leadership. The finance minister stated that the Fifth Madani Budget, crafted by a large team from the Ministry of Finance and other ministries, took into account the needs of different societal segments, including driving economic growth, addressing employment, wages and minimum income concerns.

Anwar stressed that the budget is not merely about managing finances but is an agreement tied by a covenant between the country, its leadership and its people. "A budget is a philosophy, an approach that takes a more holistic view," he said. The 2027 Budget, themed "Reaching for the Skies, While Anchored on Our Values," considers all levels of society, aiming to uphold the dignity and well-being of the people.

The prime minister highlighted that the plans under Budget 2027 will ensure a better quality of life for all segments of society in the future, taking into account the challenges faced by the people. The budget not only focuses on major matters like economic growth but also extends to issues like cat welfare and gig worker welfare.

Anwar explained that the budget reflects the country's well-managed progress, with the highest leadership upholding its trust and responsibility. "This is a budget where the country upholds its trust, safeguards it as a trust, and treats it as a covenant," he said. The Budget 2027, allocated RM510 billion, outlines eight key pillars, including improving the people's quality of life and strengthening the country's resilience.

When tabling the Supply (Budget) Bill 2027, Anwar referred to the commitment as the "National Covenant," a pledge that the country's progress would ultimately lead to a more dignified life for the people and strengthen Malaysia for future generations.