Malaysian Prime Minister Anwar Ibrahim (Photo: businesstoday.com.my)Kuala Lumpur (VNA) – In a recent address on the occasion of new year, MalaysianPrime Minister Anwar Ibrahim has provided a comprehensive overview of the country’seconomic achievements in 2023 and outlined key priorities for 2024.
Regarding economic achievements in the past year, underthe MADANI administration, the government embraced responsible economicmanagement grounded in the spirit of reform, ushering in a significant economicleap.
Key initiatives included establishing a clear nationaldirection through the MADANI Economic Framework, implementing transformativepolicies such as the National Energy Transition Plan (NETR), New IndustrialMaster Plan 2030 (NIMP), and executing fiscal reforms by enacting the PublicFinance and Fiscal Responsibility Act 2023.
The administration successfully rationalisedsubsidies, starting with electricity, and intensified efforts to alleviatepersistent poverty, offering increased assistance to small rubber planters andrice farmers.
Positive economic indicators for 2023 included 3.9%GDP growth for the first three quarters, aligning with the 2023 target of 4%.Additionally, inflation dropped from 4% in November 2022 to 1.5% in November2023.
The commitment to investments neared 350 billion MYR (75.38billion USD), with 225 billion MYR approved in the first nine months of 2023,marking a 6.6% increase compared to the same period in 2022.
Regarding directions and priorities for 2024, theMADANI government commits to accelerating reform efforts and innovations forthe well-being of the people.
Anwar emphasised the need forcollective cooperation across all government entities to achieve milestonesunder the MADANI Economic Framework.
He said that all need to collaborate as a united team to manifest betterperformance this year. All government machinery, including ministries,departments, agencies, GLICs and GLCs, as well as statutory bodies, especiallythe Ministry of Finance, will no longer operate in silos and must unite toachieve the milestones set under the MADANI Economic Framework.
Key points for 2024 include swift implementation ofobjectives outlined in the 393.8 billion MYR budget, aimed at achieving GDPgrowth exceeding 4%.
He stressed that good governance remains a toppriority, with an emphasis on administrative efficiency to avoid delays ingovernment initiatives.
The outlined economic roadmap signals Malaysia’scommitment to sustainable growth and development in the face of globaluncertainties./.
