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Malaysia to raise minimum wages, expand tax relief in $112.5 billion 2027 spending boost
The budget also lifts tax relief to RM12,000 and is expected to give up to RM1,600 in extra disposable income to 5 million taxpayers, officials said.
- On Friday, Prime Minister Datuk Seri Anwar Ibrahim tabled Malaysia's RM459.8 billion 2027 budget in Parliament, stating it should be judged on "whether more people can live with dignity."
- Growing fiscal pressure from rising global oil prices and recent coalition setbacks in regional elections prompted the expansionary spending plan, fueling expectations of early national polls.
- State energy firm Petronas will pay the government a dividend of RM32 billion in 2027, up from a revised estimate of RM27 billion this year.
- Welfare enhancements under Anwar's plan include raising the monthly minimum wage to RM2,000 effective June 2027 and expanding personal tax relief to RM12,000 for millions of Malaysians.
- The government targets a narrower fiscal deficit of 3.3 per cent in 2027 while forecasting slower economic growth and higher inflation, maintaining its commitment to medium-term fiscal objectives.
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Malaysia plans RM2,000 minimum wage with relief for smaller firms
Malaysia plans to raise its monthly minimum wage from RM1,700 to RM2,000 from June 2027, while exempting micro, small and medium-sized enterprises with annual sales below RM50 million. Prime Minister and Finance Minister Anwar Ibrahim announced the measure when presenting Budget 2027 on 9 October. The increase of RM300 amounts to approximately 17.6%, calculated from ...
Malaysia to raise minimum wages, expand tax relief in spending boost for 2027 budget
Malaysia Prime Minister Anwar Ibrahim on Friday (Oct 9) pledged to implement reforms that he said would allow the country's strong economic growth to trickle-down to ordinary Malaysians.
·Singapore, Singapore
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Total News Sources25
Leaning Left0Leaning Right5Center9Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
C 64%
R 36%
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