KUALA LUMPUR (Reuters) – Malaysian Prime Minister Ismail Sabri Yaakob tabled in the Lower House of Parliament on Monday, September 27, Malaysia’s 12th plan (12 MPs), outlining the country’s economic direction from 2021 to 2025.

On the theme “Malaysian Family – Prosperous, Inclusive and Sustainable”, the 12MP aimed for gross domestic product (GDP) growth of 4.5% to 5.5% between 2021 and 2025, as well as an average monthly household income. of RM 10,000 (US $ 2,387) by 2025.

The five-year plan also aimed to reduce the gap in GDP per capita between the central territories and the states of East Malaysia, the prime minister said, while pledging to reduce the intensity of greenhouse gas emissions in the country. 45% GDP by 2030.

The 12MP was due to be filed in August of last year, but has been postponed due to the COVID-19 pandemic.

Malaysians have placed high hopes in the government to resolve the economic and health crisis, said Ismail Sabri.

“However, due to the significant needs to protect lives and livelihoods in 2020 and 2021, the space to implement new development projects was limited. This situation should continue until next year.

“As such, the government’s allocation for development will focus more on continuation of projects. God willing, we expect the government’s fiscal position to improve in 2023 when the economy stabilizes, ”he said.

The development expenditure allocation for 12MP is estimated at RM400 billion.

Introduced for five-year periods, Malaysia’s plans outline the government’s economic development plans. The first was implemented from 1966 to 1970.

The 11th plan on “Anchoring Growth in People” was presented by then Prime Minister Najib Razak in May 2015, with a focus on achieving Vision 2020, the quest for Malaysia to become a developed nation.

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