Budget 2026 Balances Growth And Welfare Aspirations With Fiscal Discipline -- Maybank

KUALA LUMPUR, Oct 12 (Bernama) -- Budget 2026 strikes a balance between delivering investment stimulus, supporting the growth of new economic sectors and providing social relief, while maintaining fiscal discipline to stay on track with the Fiscal Responsibility Act’s medium-term target of a 3.0 per cent budget deficit to gross domestic product.

Maybank applauds this broad-based approach taken by the government, said its president and group chief executive officer Datuk Seri Khairussaleh Ramli, who is also chairman of the Association of Banks in Malaysia. 

“The unveiling of Budget 2026 comes at a key juncture for Malaysia – navigating global headwinds from trade tensions and tariff pressures, domestic cost-of-living pressures, and a renewed push under the 13th Malaysia Plan,” he noted in a statement today.

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According to him, the budget remains committed to the wellbeing of the people, particularly those in marginalised segments.

“The budget also addresses rakyat’s issues pertaining to costs of living – including medical inflation, where we welcomed the expansion and extension of tax reliefs for medical insurance and takaful, as well as tackling the provisions, maintenance and quality of public infrastructure, healthcare, education and housing,” he said.

Khairussaleh said the banking industry upholds the government’s drive to build a high-value ASEAN economy through strategic investments in new economy which include semiconductors, energy transition and digital industries.

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In terms of inclusive economy, he said Maybank applauds the government’s continued commitment on small and medium-sized enterprise development and entrepreneurship. 

“On the financing side, we will do our part to collaborate with Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) on various new initiatives such as export-based programmes,” he said.

Khairussaleh said the bank also fully supports the government’s direction on cross-border economic leadership, particularly on the development of the Johor-Singapore Special Economic Zone (JS-SEZ), which strengthens Johor’s position as Malaysia’s strategic gateway. 

“As an early mover, Maybank has mobilised RM8 billion in terms of financing and investments in the JS-SEZ and helped established two single family offices (SFO), with 11 more in the pipeline,” he said.

Regarding the government’s continued commitment to positioning Malaysia as a global leader in the Islamic economy, he said it aligns with Maybank’s long-standing role in advancing Islamic finance and value-based banking by driving inclusive and ethical financial solutions that promote equitable growth, sustainability, and social impact.

On the sustainability front, Khairussaleh said, the budget remains steadfast in accelerating the nation’s net-zero aspirations whereby various carbon related mechanisms will be introduced. 

“Maybank will continue to provide sustainable and transition finance solutions to address climate resiliency and decarbonisation efforts anchored on values-based financial services,” he added.

-- BERNAMA