Former economy minister Rafizi Ramli has urged the government to abandon “gula-gula” style budgeting and pursue radical reforms in fiscal policy and spending. He warned that Malaysia’s federal budget has long focused on cash handouts rather than long-term economic resilience.
Malaysia Must End “Gula-Gula” Budgeting – Rafizi
With slowing revenue and rising political pressure ahead of GE16, Rafizi said Budget 2026–2027 risks being trapped between populist demands and structural constraints.
He stressed the need to transform SMEs and reform wage structures, noting that sustainable change requires long-term planning. Rafizi also cautioned against over-reliance on Petronas, calling for diversified revenue sources and deeper public awareness.
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