JOHOR BARU: Building Malaysia’s resilience, tapping into artificial intelligence and addressing the economic concerns of young Malaysians are expected to be the key focus of Budget 2027.
Deputy Finance Minister Liew Chin Tong said the Budget, which will be tabled on Oct 9, would need to address challenges arising from an increasingly difficult global environment while positioning the country to seize emerging opportunities.
The Iskandar Puteri MP said his ministry had been touring the country and meeting with stakeholders.
He said various groups have also been approached to provide views and aspirations on what should be included in the Budget.
“The ministry has released a pre-Budget statement and I would encourage more Malaysians to look at it and the 10 priorities,” he told a press conference yesterday.
Liew said global uncertainties, including the war in Ukraine and conflicts in the Middle East, highlighted the need to strengthen the country’s resilience.
“We would like to see a lot more emphasis on building strong resilience – resilience in the supply chain, resilience among our people, social resilience, as well as resilience in our finances,” he added.
He said Malaysia must also seize opportunities arising from the global AI boom, which was already benefiting the semiconductor and data centre sectors.
“This is a once-in-a-generation boom,” he said, comparing the development of AI to the transformation brought about by the Internet in the 1990s.
Liew said the government would also examine how the semiconductor industry and data centres could contribute more directly to the economy and ensure the country benefited materially.
Liew said another long-term challenge was ensuring young Malaysians had economic security and a sense of purpose, with the country’s median age at 31.
“We want the Gen Z, the 31-year-olds, to feel that their jobs are safe and secure. Their wages are sufficient and they have upward mobility. They can see that they have a future,” he said.
He also said Malaysia needed to prepare for an ageing society by giving greater attention to social care, healthcare and support for those caring for elderly family members.
