The study aims to comprehensively analyse Malaysia’s fiscal landscape, with a particular focus on identifying avenues to enhance fiscal space to support key social investments, specifically in child-sensitive social protection measures. Recognizing the pivotal role of the national budget in driving sustainable progress towards societal objectives, the study emphasizes the importance of government allocations towards critical public goods and services, such as education, healthcare and social protection, alongside investments in infrastructure. Ultimately, the study aims to contribute to ongoing policy debates and foster a comprehensive, inclusive dialogue that guides Malaysia towards an optimal policy mix for maximizing social welfare. Through evidence-based insights and recommendations, it seeks to prioritize equitable development and enhance societal welfare for all segments of Malaysian society.