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NEWS ANALYSIS

Malaysia PM Anwar’s 2026 Budget balances growth and fiscal restraint

It underscores a shift towards fiscal consolidation, anchored by wider public-sector coordination

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Tan Ai Leng

Tan Ai Leng

Published Fri, Oct 10, 2025 · 10:06 PM — Updated Mon, Oct 13, 2025 · 12:28 AM
    • Malaysia Prime Minister Anwar Ibrahim (right), who also serves as finance minister, described the Budget as “not just an annual financial plan, but a historic compass for the era ahead”.
    • Malaysia Prime Minister Anwar Ibrahim (right), who also serves as finance minister, described the Budget as “not just an annual financial plan, but a historic compass for the era ahead”. PHOTO: AFP

    [KUALA LUMPUR] In his boldest fiscal move yet, Malaysia Prime Minister Anwar Ibrahim has tabled a record RM470 billion (S$144.5 billion) Budget to propel the country into the next phase of its development agenda.

    Framed as the opening chapter of the 13th Malaysia Plan, Budget 2026 reflects Anwar’s determination to reshape national growth through innovation, regional integration and stronger fiscal discipline.

    The government’s latest spending plan marks Malaysia’s largest to date, strategically drawing funds from across the public sector – including government-linked investment companies (GLICs), statutory bodies and ministerial-controlled firms – to fuel its transformation agenda.

    MalaysiaAnwar IbrahimAseanJohor-Singapore SEZCarbon taxAsia-Pacific

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