Putrajaya is to spend RM270 billion in the final three years under the 12th Malaysia Plan (12MP), as the government aligns the five-plan with the Madani Economy vision targeted to empower and stimulate the economy.
When tabling the 12MP’s Mid-Term Review (MTR) in the Dewan Rakyat on Monday, Prime Minister Datuk Seri Anwar Ibrahim said the government is committed to spending at least RM90 billion in development expenditure annually from 2023 to 2025.
“This means that the government will spend the entire RM400 billion allocation under the 12MP, and even increase the ceiling by RM15 billion to a total of RM415 billion,” Anwar said.
“This increase in allocation is to fund needs of the rakyat’s priority groups, in addition to improving the quality of management and retargeting subsidies to meet basic needs of the rakyat,” he added.
For context, Anwar said development expenditure only stood at RM64.3 billion in 2021, and RM71.6 billion in 2022.
He said this was only 34% of total development expenditure allocated under the five-year plan — RM135.9 billion out of RM400 billion.
The Dewan Rakyat is currently sitting for a six-day special sitting focused on the tabling of the 12MP MTR.
The MTR was carried out to evaluate the achievements of the five-year plan in its first two years (2021 and 2022), as well as the direction for the next three years (2023-2025), towards achieving a sustainable, prosperous, and high-income nation, taking into account current domestic challenges and global trends.
Anwar said that 31% of the 175 targets set out in the five-year plan had been achieved, and another 59% is progressing as scheduled.
The 12MP was passed by the Dewan Rakyat in October 2021, under the administration of former prime minister Datuk Seri Ismail Sabri Yaakob.
Source: theedgemalaysia