Malaysia unveils a budget of 459.8 billion ringgit, equivalent to approximately 112.5 billion dollars, for 2027. This is an increase of 3.6 percent compared with this year’s revised budget, Reuters and others report.
The minimum wage will be raised to 2,000 ringgit per month from 1,700 ringgit in June next year. Smaller companies with annual revenue of less than 50 million ringgit will be exempt for the time being. At the same time, the annual personal tax deduction will be increased to 12,000 ringgit from 9,000 ringgit.
The government expects economic growth of 4.2–5.2 percent in 2027, compared with 4.8–5.3 percent in 2026. The budget deficit is expected to decrease to 3.3 percent of GDP from 3.6 percent.
The state-owned energy company Petronas is expected to increase its dividend to the state to 32 billion ringgit from 27 billion this year.
