Budget 2027 should focus more on income, wage growth, says Akmal Nasrullah

GEORGE TOWN – Income and wage growth should receive greater emphasis in Budget 2027 to ensure the country's economic progress leads to better living standards, said Economy Minister Akmal Nasrullah Mohd Nasir.

Speaking at a press conference after attending the KL20 Penang 2026 event at the Penang Waterfront Convention Centre (PWCC) here, he said people's incomes and wages should now be made a priority.

“It is hoped that through this Budget, we will be able to demonstrate our commitment to reviewing and further improving the wages of Malaysian workers,” he said.

Akmal said efforts to raise people's incomes must go hand in hand with companies creating more high-skilled jobs and offering better wages.

He was responding to a question on the Economy Ministry's wishlist for Budget 2027, which is scheduled to be tabled on Oct 9.

He said strengthening the country's economic structure, including expanding high-growth, high-value (HGHV) industries, was among the ministry's key priorities.

Akmal said Malaysian companies should not remain focused solely on manufacturing but should also move into higher-value positions within the existing supply chain and economic ecosystem.

He added that positive developments in several industries and overall economic growth, despite continued global geopolitical uncertainty, had given the Government room to place greater emphasis on people's incomes.

He said investments and funds channelled towards development, including the National Automation, Testing and Equipment (ATE) Campus in Batu Kawan, should also be viewed as part of efforts to strengthen local companies.

“The intention is to further enhance the capabilities of our companies, which will, in turn, create better employment opportunities and more meaningful wages for our citizens,” he said.