Budget 2027 Aimed at Giving Youth Better Wages and Hope, Says Deputy Minister

JOHOR BARU: Budget 2027 will prioritise youth economic security, wage growth, and high-value tech ownership to shelter the country from escalating global uncertainties, Deputy Finance Minister Liew Chin Tong announced on Saturday (Sept 5).

Speaking at a press conference at his Iskandar Puteri constituency service centre, Liew said that empowering the nation’s young workforce is critical to capitalising on Malaysia’s demographic advantage.

“We want Gen Z and those around our median age of 31 to feel their jobs are secure, their wages are sufficient, and that they have clear upward mobility,” Liew said. “Half our population is under 31, making us significantly younger than nations like China (43) or Japan (49). But that advantage relies entirely on giving our youth a clear, viable economic future.”

Liew outlined a strategic pivot for the upcoming fiscal plan, urging Malaysia to leverage the global artificial intelligence boom by transitioning from a mere assembly hub into a technology creator.

“We must shift from ‘Make in Malaysia’ to ‘Make by Malaysia,'” Liew said, adding that domestic semiconductor and data centre sectors must generate high-value, homegrown innovation rather than serving solely as contract manufacturing bases.

Beyond tech transformation, Budget 2027 will focus on bolstering national supply chains, fiscal stability, and social safety nets against geopolitical headwinds, including persistent conflicts in Eastern Europe and the Middle East.

The national budget, scheduled for presentation by Prime Minister Datuk Seri Anwar Ibrahim on Oct 9, will also incorporate targeted measures to assist struggling brick-and-mortar micro-retailers competing against foreign e-commerce giants, alongside initial strategies to manage Malaysia’s long-term ageing population shift.

THE STAR