By Andrew Lim
Each October, the Budget announcement is met with anticipation. This year, the sense of expectation is even greater.
With Malaysia serving as ASEAN Chair in 2025 and Budget 2026 scheduled to be tabled on 10 October, what is announced in Kuala Lumpur will carry weight well beyond our borders.
Neighbouring countries will be watching closely, not only to see how Malaysia supports its own economy but also to understand the kind of leadership it is prepared to show on trade, sustainability, and digital growth. Inclusive Growth The past year has been a difficult one for many businesses.
Supply chains are still patchy, energy bills rise and fall without warning, and access to credit is not as straightforward as it once was. This translates into small and medium enterprises, the heartbeat of our economy, worrying about whether cash flow will hold up or if the next order will arrive on time.
Budget 2026 is a chance to take some of that weight off their shoulders and give them the certainty they need.
- Exporters are calling for quicker certification and smoother access to overseas markets, because even small delays can hold back growth.
- Businesses want clearer rules and simpler reporting requirements so they can focus on customers rather than paperwork.
- Accountants and finance leaders highlight that predictability is as valuable as any incentive, because clarity builds the confidence to plan ahead and invest.
These may sound like modest changes, but for firms on the edge of expansion they are often the difference between pushing forward or stalling.
Moving towards a low-carbon economy is no longer a target on the horizon; it is already part of how businesses operate. Some are investing in energy-saving equipment, others are putting solar panels on rooftops, and many are rethinking their supply chains to make them greener. These are encouraging steps, but they often need a helping hand to grow further.
Budget 2026 can give that push by making the transition feel practical and achievable:
- Tax incentives that reward sustainable investment.
- Affordable financing that makes green projects realistic for more companies.
- Clear reporting standards and stronger governance that build investor confidence.
As ASEAN Chair, Malaysia has a chance to demonstrate that sustainability is not only about protecting our environment at home, but also about leading a collective regional effort.
A consistent framework across ASEAN would give investors the certainty to back green projects that uplift businesses and communities across Southeast Asia.
The digital economy across ASEAN is growing at speed, and Malaysia has made clear its ambition to be at the forefront. But building faster networks or bigger data centres alone will not secure leadership.
Real progress depends on people having the skills, confidence, and support to use digital tools effectively.
- For SMEs, this means affordable access to cloud services, reliable cybersecurity solutions, and practical guidance on how to make artificial intelligence part of daily operations.
- For individuals, it is about continuous upskilling and reskilling, so they are not left behind as technology changes the nature of work.
- For accountants and finance professionals, it signals a move away from repetitive tasks to a more meaningful role providing advice, insight, and trusted guidance.
Budget 2026 should recognise that skills development is not a one-off project but a long-term commitment. Lifelong learning is essential if Malaysians are to remain competitive in both a digital and sustainable economy.
Every Budget must find a balance between ambition and restraint, and 2026 is no different. Families are still feeling the pressure of rising living costs, and many businesses remain cautious about major decisions until the outlook becomes more stable.
At the same time, the government has been clear that deficits must be kept under control, with consolidation signalled in the Pre-Budget Statement and a deficit target of 3.8 percent of GDP in 2025.
- Tax measures should be introduced in a way that avoids sudden shocks.
- Fiscal policies need to be explained with transparency so companies can plan with confidence.
- Public finances must be managed carefully to inspire trust while still supporting the investments needed for future growth.
As ASEAN Chair, Malaysia also has the responsibility to show that careful management of public money can sit alongside bold planning for the future. Setting that example will send a strong signal across the region.
The accountancy profession has never been more important. Accountants today are not just record keepers; they are advisers, problem solvers, and guardians of trust.
Their work helps businesses make sense of uncertainty and seize opportunities with confidence.
- They guide companies through the increasingly complex requirements of sustainability reporting.
- They support businesses as they adopt digital tools and transform the way they operate.
- They ensure compliance across multiple markets, giving firms the assurance they need to expand.
In all these ways, accountants bring clarity and confidence to decision-making.
Their expertise allows businesses to focus on growth while knowing that the fundamentals are secure.
Looking ahead Budget 2026 is about more than numbers on a page. It will be seen as a statement of intent, both for Malaysia and for the wider region during its ASEAN Chairmanship. Businesses will be watching closely for signals on competitiveness and the opportunities that will allow them to expand.
Families, meanwhile, will be seeking reassurance that their livelihoods are protected in uncertain times. At the same time, the accountancy profession will be ready to step in, turning policies into practical action that supports both growth and stability.
If Malaysia can strike the right balance between its national needs and its regional role, Budget 2026 has the potential not only to ease today’s pressures but also to set ASEAN on a stronger path for the future. – BACALAHMALAYSIA.MY
- Writer is ACCA Maritime South-East Asia Portfolio Head.
