Penang: The Economy Ministry is finalising its development spending proposals for Budget 2027, with its findings and recommendations expected to be submitted to the Ministry of Finance by mid-August. Economy Minister Akmal Nasrullah Mohd Nasir said the budget preparation process involves several stages, including gathering proposals from agencies under the ministry before the development spending proposals are submitted to the Ministry of Economy for coordination.

According to BERNAMA News Agency, Akmal Nasrullah mentioned that he expects all processes at the Economy Ministry to be completed by the middle of this month. He addressed the media after launching the Science, Technology, Engineering and Mathematics (STEM) Talent Pilot Project at Tech Dome Penang in Komtar. The event was attended by Penang Chief Minister Chow Kon Yeow, Penang STEM chief executive officer Richard Chung, and Penang Trade and National Unity Committee chairman Goh Choon Aik.

Akmal Nasrullah stated that the process not only considers proposals for new allocations but also takes into account ongoing projects to ensure planned development initiatives can continue to be implemented effectively. He emphasized that the Economy Ministry is ensuring that the priorities outlined under the 13th Malaysia Plan (13MP) are taken into account in preparing the 2027 development allocations, particularly in terms of the government's capacity to implement its planned development agenda.

He further mentioned that some initiatives have already been approved under Rolling Plan 1 (RP1), but for RP2, several considerations will be made regarding requirements, whether for infrastructure funding or how government development can be accelerated towards high-growth, high-value industries proposed by the ministry. Overall, development planning for 2027 will focus on strengthening the implementation of the 13MP.