KUALA LUMPUR (July 27): Prime Minister Datuk Seri Anwar Ibrahim said the Ekonomi Madani plan aims to achieve seven targets within 10 years, including bringing down the fiscal deficit to 3% or lower.
The other targets are for Malaysia to be ranked among the 30 biggest economies, to rank within the top 12 in the Global Competitiveness Index, to raise the percentage of labour income to 45% of the total amount of income, to increase women's participation rate in the workforce to 60%, to place in the top 25 of the Human Development Index, and to place within the top 25 of the Corruption Perception Index.
According to Anwar, Ekonomi Madani was proposed as a way to raise Malaysia's standing by restructuring its economy to make it a leader in Southeast Asia, thereby raising the standards of the people's living.
Additionally, the plan will be the catalyst for specific policies, such as the newly-announced National Energy Transition Roadmap (NETR), New Industrial Master Plan 2023 (NIMP2023) and the mid-term review of the 12th Mid-Term Plan (RMK12).
Ekonomi Madani's short-term goal is to address rising living costs
Anwar said the plan's immediate target is to deal with major issues faced by the people, such as the higher cost of living.
Other short-term objectives include speeding up the upgrading of dilapidated schools and clinic projects through increased allocation, simplified procurement procedures and easier bureaucratic processes.
In addition, the government also aims to root out extreme poverty, via measures such as the People’s Income Initiative, which provides poor households with opportunities to increase their income, rather than relying on cash assistance.
The Rahmah Umbrella concept will also be enhanced and strengthened to address the cost of living challenge.
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