Budget 2027 Needs To Ensure Economic Growth Benefits All - Tengku Zafrul
KUALA LUMPUR, Sept 12 (Bernama) -- Budget 2027 must focus on ensuring that the benefits of the nation's economic growth are felt more comprehensively across all segments of society, particularly by those who have yet to experience the impact of such growth.
Senior Political Advisor to the Prime Minister, Tengku Datuk Seri Zafrul Abdul Aziz, said although the country's current macroeconomic performance is strong, economic growth must translate into an improved standard of living for the people.
“The growth must be equitable. For those who have not yet experienced it, God willing, we can address this issue through the Budget,” he told reporters after officiating the Pandan Community Hub here today.
Tengku Zafrul noted that this matter has also been discussed with the Ministry of Finance and Prime Minister Datuk Seri Anwar Ibrahim to identify needs that require attention in Budget 2027.
He said that while current government economic initiatives are showing improvement and yielding results, there is still room for refinement through engagement with the public, particularly small business owners and industry players.
Budget 2027 is scheduled to be tabled by the Prime Minister in Parliament on Oct 9.
In a separate development, Tengku Zafrul, who is also the chairman of the Malaysian Investment Development Authority (MIDA), stated that Malaysia's participation in BRICS as a partner country does not mean the nation is bound to any specific geopolitical bloc.
He said Malaysia maintains an open approach to cooperating with all parties, in line with the MADANI Foreign Policy, which emphasises active and pragmatic diplomacy.
“We are participating as a partner country this time, not yet as a full member, so there is no issue of being tied to a bloc,” he said when commenting on Anwar's visit to India to attend the 18th BRICS Leaders' Summit. The former Finance Minister stated that BRICS should also be viewed as an economic opportunity rather than solely through a geopolitical lens, particularly regarding avenues for cooperation in trade, investment, energy, and technology.
“Malaysia’s approach of cooperating with all parties is nothing new; rather, it has been a cornerstone of our foreign policy since independence, as the government has never placed all its interests in a single geopolitical basket,” he said.
-- BERNAMA