PUTRAJAYA (THE STAR/ASIA NEWS NETWORK) – Malaysia’s Prime Minister Ismail Sabri Yaakob will table the 12th Malaysia Plan (12MP) in Parliament on Sept 27.
Minister in the Prime Minister’s Department (Economy) Mustapa Mohamed said the 12MP is almost completed, adding that the Economic Planning Unit (EPU) will brief the Prime Minister accordingly. His comments came after starting his duties at the planning unit on Wednesday (Sept 1).
Datuk Seri Mustapa said the tabling of the 12MP and the 2022 Development Budget would be the EPU’s main focus for the next 100 days.
He highlighted that under the 12MP, the key issues to be addressed in the next five years included bridging the development gaps between states, as well as between areas within the states.
“We have identified six states which are a little behind (in terms of development), including Sabah and Sarawak. Additionally, we will also focus on addressing the income gap… especially those affected by the Covid-19 pandemic,” he said.
He also added that the 12MP will also ensure basic needs such as water, electricity and Internet are available for all Malaysians.
Meanwhile, Mr Mustapa said the EPU will be finalising the 2022 Development Budget together with the Finance Ministry as soon as possible.
Malaysia’s 2022 budget is expected to be tabled some time in October by Finance Minister Tengku Zafrul Aziz, and the pre-budget statement stressed that it will be formulated on the basis of expectations the economy will recover from the Covid-19 crisis next year.
Malaysia’s economy has been battered since a budget projection was first made late last year, with the country beset by surging Covid-19 infections and repeated lockdowns. The health and economic crisis ultimately led to a change in government.
Malaysia’s GDP growth shrank by 5.6 per cent in 2020, the worst contraction since the 1998 Asian financial crisis.
Growth estimates had been revised downwards again since the onset of a third Covid-19 wave in September last year. The country had managed the second wave of the virus well, reopening much of the economy after a two-month lockdown in mid-2020.
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