安瓦尔提交4600亿林吉特财政预算案 应对生活成本与选举考验Anwar Presents 460 Billion Ringgit Budget to Tackle Living Costs and Election Pressures

在4598亿林吉特的联邦支出总额中，政府为行政运营开支划拨3768亿林吉特，其余830亿林吉特投入发展支出，资金主要流向基础设施建设。除联邦预算直接拨款外，该财政规划还动员政府关联投资公司（GLIC）投入250亿林吉特，同时吸纳110亿林吉特公私合营投资，并由财政部所属企业与法定机构提供142亿林吉特支持。

Of the 459.8 billion ringgit in planned federal spending, the government allocated 376.8 billion ringgit to operating expenditure and designated 83 billion ringgit for development outlays, primarily targeting infrastructure projects. Beyond direct federal allocations, the fiscal programme mobilises 25 billion ringgit in investments from government-linked investment companies, 11 billion ringgit in public-private partnerships, and 14.2 billion ringgit from statutory bodies and finance ministry-owned entities.

宏观指标方面，官方预测2027年国内生产总值增速为4.2%至5.2%，低于2026年4.8%至5.3%的增幅，增长动力主要来自国内需求以及半导体和人工智能相关产品出口。受能源、食品等投入成本传导影响，通胀率预计由2026年的1.5%至2.5%升至1.8%至2.8%。财政部预计联邦收入将由3636亿林吉特增至3808亿林吉特，使财政赤字占GDP比重由2026年的3.6%降至3.3%。

Macroeconomic projections set economic growth at 4.2 percent to 5.2 percent in 2027, moderating from 4.8 percent to 5.3 percent this year, underpinned by domestic demand and exports of semiconductors and artificial intelligence products. Reflecting higher energy, food, and input costs feeding into consumer prices, inflation is projected between 1.8 percent and 2.8 percent, compared with 1.5 percent to 2.5 percent in 2026. Official forecasts anticipate federal revenue will rise from 363.6 billion ringgit to 380.8 billion ringgit, lowering the fiscal deficit from 3.6 percent to 3.3 percent of gross domestic product.

为抑制家庭生活成本上涨，预算案将补贴与社会援助总开支设定在727亿林吉特，其中约400亿林吉特用于维持加油站燃油补贴。安瓦尔表示，保留燃油补贴考虑到了美以对伊朗冲突引发的长期能源危机影响。北方大学经济与金融政策研究所高级副研究员伊尔万·沙阿·扎伊纳尔·阿比丁指出，物价压力在冲突爆发前便已存在，维持燃油补贴主要在于防止情况恶化，而非彻底解决生活成本压力。

To rein in living expenses for households, the budget allocates 72.7 billion ringgit for subsidies and social assistance, led by roughly 40 billion ringgit to preserve pump-station fuel subsidies. Anwar stated that the fuel commitment reflects expectations of a prolonged energy crisis stemming from the US-Israel conflict with Iran. Universiti Utara Malaysia Economic and Financial Policy Institute senior associate fellow Irwan Shah Zainal Abidin noted that living cost pressures existed prior to the conflict, adding that maintaining fuel subsidies functions more to prevent conditions from deteriorating rather than resolving structural price pressures.

直接惠及低收入群体的现金援助规模获得扩大，爱心援助金（STR）与爱心基本援助金（SARA）总额由150亿林吉特增至160亿林吉特，增幅达6.7%。STR受惠家庭每月最高可获150林吉特SARA基本物资支持，非受惠成年人将获得两笔各100林吉特的补贴。在劳动报酬方面，非技术工人最低月薪自2027年6月起由1700林吉特上调至2000林吉特，年销售额低于5000万林吉特的微型与中小企业获得豁免；政府同时首次为半熟练工人和高校毕业生设立2500林吉特的月薪底线。

Targeted household assistance will expand as Sumbangan Tunai Rahmah (STR) cash transfers and Sumbangan Asas Rahmah (SARA) essential-goods funding increase to 16 billion ringgit from 15 billion ringgit, marking a 6.7 percent rise. STR recipients will receive up to 150 ringgit monthly in SARA provisions, while Malaysian adults outside the STR scheme will get two separate 100 ringgit distributions. For labour policies, the statutory minimum wage for unskilled workers climbs from 1,700 ringgit to 2,000 ringgit in June 2027, exempting micro, small, and medium businesses with annual sales under 50 million ringgit, alongside a newly introduced 2,500 ringgit monthly wage floor for semi-skilled employees and graduates.

在个税政策方面，基本个人所得税减免上限从9000林吉特提高至12000林吉特，并将抵扣范围扩大至产后护理、子女学费、祖父母照护、人工智能工具订阅以及宠物疫苗接种和领养。针对中等收入群体，应税年收入在7万至10万林吉特以及10万至15万林吉特两个区间的边际税率各下调1个百分点，分别降至18%和24%；年收入超过100万林吉特的高收入群体税率则定为30%。针对小型企业，首15万林吉特应税收入所得税率下调1个百分点至12%，其后45万林吉特的税率降至16%，相关贷款及融资担保总额增至570亿林吉特。

Under the personal income tax adjustments, the baseline tax relief ceiling increases from 9,000 ringgit to 12,000 ringgit, incorporating expanded deduction categories covering postpartum care, children's tuition, care for grandparents, artificial intelligence tool subscriptions, and specific pet vaccination and adoption costs. For middle-income brackets, marginal income tax rates on annual taxable earnings of 70,000 to 100,000 ringgit and 100,000 to 150,000 ringgit drop by one percentage point to 18 percent and 24 percent, respectively, while the top rate for taxable income above 1 million ringgit is fixed at 30 percent. For smaller enterprises, the corporate tax rate falls by one percentage point to 12 percent on the first 150,000 ringgit and to 16 percent on the next 450,000 ringgit, backed by an expansion of loan and financing guarantees to 57 billion ringgit.

为争取占全国3400万人口60%的马来裔穆斯林群体支持，政府向该群体开放近700亿林吉特的小型公共项目、融资与投资渠道，以及国家石油公司（Petronas）和政府关联公司的采购机会。安瓦尔在国会强调，国家预算案是负责任政府的道德宣示，传统马来知识界长期将正义与信任视作治理核心。此外，企业必须通过银行账户发放薪资方可申领相关税收减免，旨在堵塞聘用无证劳工的避税漏洞。

Targeting the Malay-Muslim demographic, which constitutes 60 percent of Malaysia's 34 million citizens, the administration opens nearly 70 billion ringgit in small-scale public projects, business funding, and investments to Malay-Muslim commercial operators, alongside designated procurement access with state energy producer Petronas and government-linked companies. Addressing lawmakers, Anwar described the national budget as a moral commitment of responsible governance, stating that traditional Malay intellectual thought has long held justice and trust as core governing tenets. The administration also mandates that companies can only claim tax deductions on salaries paid through official bank accounts, aiming to eliminate practices tied to hiring undocumented workers.

在公共服务领域，医疗卫生预算增至477亿林吉特，高于2026年的465亿林吉特，重点用于新建与改造医疗设施、扩大基层诊疗覆盖，并在公立系统为9000多名合约医生转为正式编制，另设2亿林吉特借助私立等其他医院分流以缩短候诊时间。教育领域总拨款近1000亿林吉特，涵盖教育部近69亿林吉特与高等教育部191亿林吉特，学校修缮经费倍增至20亿林吉特，返校津贴由每名学生150林吉特提高到200林吉特，同时降低国家助学贷款偿还门槛并为资助员工还贷的企业提供税收减免。

In public service allocations, healthcare funding rises to 47.7 billion ringgit from 46.5 billion ringgit, focusing on constructing and upgrading facilities, enhancing primary and outpatient access, and offering permanent public-sector posts to more than 9,000 contract doctors, alongside 200 million ringgit to outsource treatments to other hospitals, including private providers, to shorten waiting queues. Education allocations approach 100 billion ringgit, combining nearly 69 billion ringgit for primary and secondary schooling and 19.1 billion ringgit for higher education, while school maintenance funding doubles to 2 billion ringgit, back-to-school student aid increases from 150 ringgit to 200 ringgit, and companies aiding staff with student loan repayments receive designated tax breaks alongside lowered repayment hurdles.

为保障公职人员并提振住房需求，约130万名公务员及合约雇员将获发1500林吉特特别津贴，逾100万名退休公职人员和退伍军人获发750林吉特，于开斋节和独立70周年纪念前夕发放。首套房印花税豁免政策延长至2030年，50万林吉特及以下房产全免，50万至75万林吉特区间超出部分减免50%。在区域平衡上，婆罗洲沙巴和砂拉越两邦联邦拨款分别增至18.7亿林吉特和16.2亿林吉特，其中3.3亿林吉特专门投向跨邦公路建设。

To support public sector staff and household property access, approximately 1.3 million civil servants and contract workers will receive a special cash distribution of 1,500 ringgit, while over 1 million government retirees and military veterans receive 750 ringgit, timed before Eid al-Fitr and Malaysia's 70th independence anniversary in August 2027. First-homebuyers secure full stamp-duty exemptions on loans and transfers for properties priced up to 500,000 ringgit through 2030, with a 50 percent exemption on the remainder for homes up to 750,000 ringgit. Regionally, the Borneo states of Sabah and Sarawak receive federal allocations of 18.7 billion ringgit and 16.2 billion ringgit, respectively, including 3.3 billion ringgit dedicated to cross-state road works.

安瓦尔领导的希望联盟在2022年大选中赢得国会最多议席，但自2025年12月以来在一系列州选举中接连遭遇重挫。选民对现政府未能兑现此前承诺的改革举措表示不满，执政盟友兼州级选举对手巫统在柔佛与森美兰州选举中取得决定性胜利后，直接要求立即提前举行全国大选，对联邦执政联盟构成持续的政治压力。

Anwar's Pakatan Harapan coalition secured the largest share of parliamentary seats in the 2022 national election, but has suffered defeats across a series of state elections since December 2025. Voters registered their disapproval over the administration's failure to deliver on promised institutional and economic reforms. Emboldened by decisive electoral victories over Pakatan Harapan in the Johor and Negeri Sembilan polls, the United Malays National Organisation, which serves as a federal coalition partner while remaining a state-level political rival, has demanded immediate snap general elections.

马来西亚宪法规定的本届国会任期至2028年2月届满，这意味着2027年预算案可能成为安瓦尔本届五年任期内提交的最后一份财政预算案。面对来自巫统的逼选呼声和基层选民对生活开支压力的诉求，政府试图借助更广泛的民生扶助、工资保障和族群经济倾斜巩固执政基础，这份预算案也因而被视为安瓦尔在全国投票前稳定政治阵脚的关键举措。

With Malaysia's next general election due by February 2028, the 2027 spending blueprint represents what could be the final budget presented by Anwar before voters return to the ballot box. Confronted with snap-poll demands from Umno and widespread public frustration over living costs, the administration relies on expansive welfare payouts, revised wage floors, and targeted economic allocations to steady its governing position ahead of an impending national vote.