Malaysia unveils national budget eyeing food security, flood mitigation

Kuala Lumpur: Malaysian Prime Minister Anwar Ibrahim unveiled an expansionary budget for 2026 on Friday, the largest in the country s history, aimed a...

Kuala Lumpur: Malaysian Prime Minister Anwar Ibrahim unveiled an expansionary budget for 2026 on Friday, 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 prioritizing quality of life across all segments of society and strengthening economic resilience, Anwar said in his speech to parliament.

"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 toward 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 digitalization and development efforts in those areas.