KUALA LUMPUR, Aug 8 (Bernama) — Budget 2026 will continue to provide socioeconomic assistance to protect high-risk groups affected by the cost of living pressure.
The Ministry of Finance (MOF) in its Pre-Budget 2026 statement said the assistance aims to provide income support so that all levels of society can enjoy a dignified and prosperous life, in addition to the people being able to obtain basic needs, especially food and essential goods, in addition to strengthening the security of the country’s food supply.
“At the same time, the government will strive to reduce errors in targeting, whether inappropriate participation or inappropriate exclusions so that assistance is accurately targeted to the needy,” the statement said.
MOF said the government is committed to moving from blanket subsidies to the implementation of targeted subsidies to eliminate leakage, increase fiscal efficiency and ensure that public resources are distributed to the needy and ensure that the majority of the people continue to receive benefits.
According to the statement, the improvements will create a strong social protection system, in line with current needs with the use of data and automation to deliver support more accurately, quickly and with dignity.
MOF announced that Budget 2026 will also continue efforts to bridge the development gap between urban and rural areas and modernise regional development including remote and underserved areas in Sabah and Sarawak.
Key investments will be focused on basic infrastructure and utilities including roads, treated water, electricity, sewerage systems and high-speed internet which are essential for the well-being of the people and increased social mobility.
Meanwhile, Budget 2026 will empower all groups to participate in the country’s growing economy through a target group empowerment strategy.
This includes initiatives to expand Technical and Vocational Education and Training (TVET) programmes, support for social enterprises, access to financing and digital platforms for youth as well as investments in childcare infrastructure, flexible working arrangements, skills development programmes and entrepreneurship for women.
In addition, focus is given to strengthening social protection, geriatric and housing care as well as sustainable financing of temporary elderly care for the disabled (OKU), interventions involving inclusive education access, barrier-free public infrastructure, digital services, inclusive employment framework.
The Orang Asli and Pribumi communities will be assisted through community-based economic development and improvements in education and health while initiatives for Bumiputera include the 3P strategy, namely broad participation, meaningful ownership and control in strategic sectors.
— BERNAMA
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