Budget 2027 to Focus on Cost-of-Living Relief and Investment amid Global Uncertainty, Says Fahmi

KUALA LUMPUR, Aug 23 — The government will place greater emphasis on addressing the public’s cost-of-living issues in Budget 2027, taking into account ongoing global geopolitical uncertainties, according to MADANI Government spokesman Datuk Seri Fahmi Fadzil.

Fahmi, who is also the Communications Minister, stated that budget preparations will weigh critical external economic factors, including movements in global crude oil prices.

“Overall, I see that on behalf of the government, the focus in Budget 2027 will include ensuring that the people’s cost-of-living issues are addressed more comprehensively, taking into account the geopolitical situation, which remains unresolved at this time,” Fahmi said.

“So, factors such as crude oil prices, which are usually one of the benchmarks, will be among the considerations,” he added.

He made the remarks after officiating the launch of the 2026 Kembara Merdeka Jalur Gemilang (KMJG) X JAGO programme for the Federal Territories of Kuala Lumpur and Putrajaya at the Taman Seri Sentosa Market today. Federal Territories of Kuala Lumpur and Putrajaya Information Department Director Normaizatulakmal Tujad was also present.

Fahmi noted that Budget 2027 will prioritize high-impact projects capable of resolving immediate public concerns within the shortest possible timeframe, alongside strategic initiatives to attract domestic and foreign investments in line with the 13th Malaysia Plan (13MP).

Detailing key priorities within the Communications Ministry, Fahmi highlighted plans to expand internet connectivity to remote areas and address media sustainability challenges.

Furthermore, the ministry is exploring targeted financial incentives to attract major international events and film productions to the country.

“Perhaps incentives such as CIME (Concerts and Events in Malaysia Incentive) and FIMI (Filming in Malaysia Incentive)… both are capable of attracting more investors to Malaysia,” Fahmi explained.

“So, these are currently being discussed at the Communications Ministry level and among the messages we have received from the Finance Ministry,” he said.

–NMT