- Economy set to return to full employment with an unemployment rate of 4% by 2025
- The government targets fiscal balance of -3.5 pct and -3 pct of GDP in 2025
- The government expects the country's financial position to improve in 2023 when the economy strengthens.
- Malaysia is expected to be a high-income, high-tech country by 2025.
- GDP Growth of 4.5% to 5.5% from 2.7% in 11th Malaysia Plan.
- GNP per capital end period RM57,882 vs RM42,503 in 11MP.
- Compensation of employees, end period (% of GDP) 40% vs 37.2% in 11MP.
- Average monthly household income RM7,160 vs RM10,065.
- Malaysia wellbeing Index growth per annum at 1.2% vs 0.5%.
- COVID-19 pandemic affects government’s financial position, 2020 fiscal deficit widens 6.2 percent of GDP.
- Services, manufacturing, agriculture, construction and mining sector grow at 5.2%, 5.7%, 3.8%, 4.2% and 2.6% respectively per annum
- Growth of high-impact strategic industries and MSME given a boost and enhanced.
- Gov't guarantees to reduce bureaucracy, provide quality infrastructure and strengthen the ecosystem.
- On the demand side, the private sector will continue to be the key driver of growth.
- Private consumption is expected to increase at an annual average rate of 5.8%.
- Higher household income arising from expected stable labour market conditions.
- Private investment will rebound; to grow at 3.8% per annum or an average of RM258bil at current prices vs RM233bil in the 11th Plan.
- Public investment to grow at 2.6% per annum driven by Federal Government development expenditure and capital spending of non-financial public corporations (NFPCs).
- The investment focuses on infrastructure, transport, utilities as well as the oil and gas industry.
- Major public sector projects will be undertaken.
- Projects undertaken in phases are the ECRL, Johor Bahru-Singapore RTS, and the Pan Borneo Highway.
- Public consumption is expected to expand by 3.7% per annum.
- Total development expenditure allocation is estimated to be RM400bln vs RM260bil in 11MP
- Services, manufacturing, agriculture, construction and mining sector grow at 5.2%, 5.7%, 3.8%, 4.2% and 2.6% respectively per annum
- The current account of balance of payment BOP to remain in surplus at RM44b or 2.2% of GNI in 2025 supported by higher in the goods account
- Gov’t to introduce more waqf instruments, including setting up a waqf fund at national level
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