KUALA LUMPUR, Oct 11 (NNN-BERNAMA) – Malaysian Prime Minister, Anwar Ibrahim, unveiled an expansionary budget for 2026, yesterday, the largest in the country’s history, aimed at developing high-value economic activities, while improving the people’s living standards.
The budget allocates 470 billion ringgit (111.3 billion U.S. dollars), reflecting the government’s commitment to balance national development with the well-being of its citizens, by prioritising quality of life across all segments of society, and strengthening economic resilience, Anwar said.
“We have carried out bold and thorough reforms that are now beginning to yield meaningful results, particularly in raising the ceiling of economic growth and lifting the floor of public well-being,” he said.
Of the total, 338.2 billion ringgit is for operating expenses, and 81 billion ringgit for development projects, while government-linked investment companies (GLICs) will be allocated 30 billion ringgit, to venture into strategic sectors, with the remainder going towards other initiatives.
Among the key infrastructure projects to be undertaken is a 2-billion ringgit undersea cable project, spanning 3,190 km from the state of Johor to the northern Borneo states of Sarawak and Sabah, to support digitalisation and development efforts in those areas.
In addition, 2.2 billion ringgit will be allocated for various infrastructure works related to flood mitigation, to reduce the impact and economic damage caused by persistent flooding, in parts of the country.
Food security and production will also receive a boost with various initiatives, including land rehabilitation and subsidies for key materials, such as fertilisers. Key food crops, including rice, corn, and onions, will receive special attention, with 2.6 billion ringgit allocated for rice cultivation, as well as, initiatives for the raising of livestock to increase the country’s meat production.
The government is also allocating 43 billion ringgit, to improve the Defence and Home Ministries, to boost national security readiness, covering both maintenance and the purchase of defence assets, including medium-, short-, and very short-range air defence systems, and two multi-role support ships. (1 ringgit equals 0.23 U.S. dollars)– NNN-BERNAMA
