His Majesty Sultan Ibrahim, King of Malaysia, has voiced his backing for the government’s decision to implement austerity measures aimed at alleviating the country’s growing financial strain. Expressing concern over the escalating debt burden accumulated from fiscal deficits since 1998, Sultan Ibrahim emphasized the need for significant savings and targeted subsidies to address the issue.
During the opening of the First Meeting of the Third Session of the 15th Parliament on Monday, Sultan Ibrahim conveyed his support for the government’s initiatives, acknowledging the challenges posed by the weakened financial position in implementing new development projects and providing financial incentives for economic growth.
The king personally committed to closely monitoring government spending to ensure that all expenditure proposals align with genuine needs. Furthermore, Sultan Ibrahim expressed his hope for the government to achieve a fiscal surplus annually during his reign.
While anticipating proactive reforms from the government to enhance competitiveness and achieve a sustainable economy, Sultan Ibrahim urged for attractive incentives and efficient governance to facilitate transactions, particularly in the property development sector.
Highlighting the mismatch between high-quality graduates and job opportunities, Sultan Ibrahim stressed the government’s role in attracting high-value investments to create employment opportunities with commensurate incomes.
Looking ahead, Sultan Ibrahim encouraged leveraging Visit Malaysia Year 2026 and Malaysia’s chairmanship of Asean in 2025 to tap into economic opportunities, generate new income sources, and promote the nation’s culture and heritage to tourists.
