13MP Diversifies Strategies To Keep Malaysia Resilient While Promoting Prudent Spending
By Durratul Ain Ahmad Fuad & Siti Noor Afera Abu
KUALA LUMPUR, July 31 (Bernama) -- The 13th Malaysia Plan (13MP) has been crafted with the core objectives of the MADANI Economy framework at its foundation while maintaining the flexibility to navigate both domestic and external uncertainties over the next five years, said an economist.
Putra Business School Associate Professor Dr Ahmed Razman Abdul Latiff also noted that the scope of the 13MP is broader compared to the 12MP, reflecting the country's need to stay competitive and sustainable.
A wider focus is necessary, he said, as Malaysia cannot rely on a single path, and diversifying strategies is crucial to ensure resilience in the face of both global and local challenges.
'Some of the targets are realistic whilst some are a bit ambitious, but the government monitoring system will ensure that any intervention can be made in a timely and structured manner,' he told Bernama.
Meanwhile, economist Professor Geoffrey Williams said the overall economic contribution is in line with normal development spending.
He said the federal government's development expenditure will be RM86 billion per year as normal.
'The government-linked investment companies' (GLICs) spending is the same as the GEAR-uP programme and the RM12 billion per year in public-private partnerships (PPP) is in line with normal spending.
'It is essential that good governance practices are in place to ensure efficient and effective spending to cut wastage, leakages and corruption. This will be the key difference to the MADANI approach compared to previous administrations,' he added.
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