In presenting Malaysia's Budget 2026 at the Parliament last Friday 10 October, Prime Minister Datuk Seri Anwar Ibrahim has strike a balance between delivering investment stimulus, supporting the growth of new economic sectors and providing social relief, while maintaining fiscal discipline to stay on track with the Fiscal Responsibility Act's medium-term target at a 3.0 percent budget deficit to gross domestic product. It is navigating tariff pressures & a renewed push under the 13th Malaysia Plan. However, the budget remains committed to the wellbeing of the people, particularly in marginalized sectors. (belanjawan.mof.gov.my)
Anchored by MADANI Economic framework, Budget 2026, introduces targeted tax reforms, plugging of tax loopholes, green economy incentives, digital upskilling & strategic investments designed for future-proof to drive economic growth whilst supporting and safeguarding the welfare of the people. For businesses, it opens doors to innovation, sustainability and regional expansion. For individuals & households, it offers relief from cost-of-living pressures.
I reached out to a distinguished economist, Professor Emeritus Tan Sri Dr. Anuwar Ali, former Vice-Chancellor, Universiti Kebangsaan Malaysia (UKM) & President, Open University Malaysia (OUM), who applauds this broad-based approach taken by the government, especially on higher education matter. His own observations are that “Like previous years, the main beneficiaries of these spendings may not directly be the common people. My second point is, how does the allocations help the people who are in the B40 group, especially those whose monthly income is below RM2000 per month. So, the most important component of the Budget will be the implementation part. As such, the impact & evaluation of previous budgets implementation are important.”
I agree with Tan Sri Anuwar that the implementation of Budget 2026 requires monitoring as well as effective action plans throughout all processes. It will do well to have a report card documenting all achievements as announced in the previous budget cycle, which can increase public trust in the government.
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