Budget 2027: Economy Ministry Finalising Development Spending Proposals
GEORGE TOWN, Aug 10 (Bernama) -- The Economy Ministry is finalising its development spending proposals for Budget 2027, with its findings and recommendations expected to be submitted to the Ministry of Finance by mid-August.
Economy Minister Akmal Nasrullah Mohd Nasir said the budget preparation process involves several stages, including gathering proposals from agencies under the ministry before the development spending proposals are submitted to the Ministry of Economy for coordination.
“I expect that all processes at the Economy Ministry will be completed by the middle of this month,” he told reporters after launching the Science, Technology, Engineering and Mathematics (STEM) Talent Pilot Project at Tech Dome Penang in Komtar here today.
Also present were Penang Chief Minister Chow Kon Yeow, Penang STEM chief executive officer Richard Chung and Penang Trade and National Unity Committee chairman Goh Choon Aik.
Akmal Nasrullah said the process not only considers proposals for new allocations, but also takes into account ongoing projects to ensure planned development initiatives can continue to be implemented effectively.
He said the Economy Ministry is also ensuring that the priorities outlined under the 13th Malaysia Plan (13MP) are taken into account in preparing the 2027 development allocations, particularly in terms of the government's capacity to implement its planned development agenda.
“Some of these have already been approved under Rolling Plan 1 (RP1), but for RP2, there will certainly be several considerations in terms of requirements, whether for infrastructure funding or how government development can be accelerated towards the high-growth, high-value industries that we have proposed,” said Akmal Nasrullah.
He said overall, development planning for 2027 would place emphasis on strengthening the implementation of the 13MP.
-- BERNAMA