Highlights of the 12th Malaysia Plan

KUALA LUMPUR : The following are the highlights of the 12th Malaysia Plan 2021-2025 (12MP), themed “Resetting the economy; strengthening security, wellbeing and inclusivity; and advancing sustainability,” that was tabled by Prime Minister Datuk Seri Ismail Sabri Yaakob in Parliament today (Sept 27).

– Total development expenditure allocation is estimated to be at RM400 billion

– Malaysia’s economy is expected to grow between 4.5-5.5 pct per annum, resulting in higher Gross National Income (GNI) per capita of RM57,882 in 2025

– The services, manufacturing, agriculture, construction and mining sector is expected to grow at 5.2 per cent, 5.7 per cent, 3.8 per cent, 4.2 per cent and 2.6 per cent, respectively, per annum

– Fiscal balance is targeted to be between -3.5 per cent and -3.0 per cent of Gross Domestic Product (GDP) in 2025

– Private consumption is expected to increase at an average annual rate of 5.8 per cent

– Private investment will rebound and is expected to grow at 3.8 per cent per annum or an average of RM258 billion versus RM233 billion in the 11th Malaysia Plan

– Public investment is expected to grow at 2.6 per cent per annum, driven by the Federal government’s development expenditure, capital spending of non-financial public corporations

– Public consumption is expected to expand by 3.7 per cent per annum

– The economy is estimated to return to full employment with an unemployment rate of 4.0 per cent by 2025

– Employment is expected to grow moderately at 1.4 per cent per annum to reach 16.2 million by 2025, with an additional 1.1 million jobs created

– Gross exports are projected to increase at an average annual rate of 5.0 per cent, supported by higher value-added products, diversified market

– The Regional Comprehensive Economic Partnership is expected to generate a net positive effect on Malaysia, with GDP to increase 0.8 per cent by 2030

– Gross imports are estimated to expand at an average annual rate of 5.9 per cent, in line with strong exports performance and higher domestic investment

– Trade surplus is expected to remain substantial at RM191 billion in 2025

– Inflation is expected to stabilise at a lower level, averaging 2.7 per cent per annum following better economic prospects

 – The current balance of payment account is projected to remain in surplus at RM44 billion or 2.2 per cent of GNI in 2025, supported by higher goods account

– The National Agrofood Policy 2021-2030, which is currently being formulated, will focus on the application of modern technology, enhancement of food security in Malaysia

– Efforts will be undertaken to formulate strategies in capitalising the gas subsector’s potential to position Malaysia as a regional trading hub

– Investments in global services set to reach RM89 billion in 2025

– A total of RM10 billion of investment is targeted for the Biomass Industry

– Electrical and Electronics industry to contribute RM120 billion to the GDP, generate RM495 billion in export revenue by 2025

– Aerospace industry to generate RM30 billion in revenue by 2025

–  Digital economy to contribute 25.5 per cent to GDP by 2025

– Halal industry to contribute 8.1 per cent to GDP, RM56 billion in export revenue by 2025

BERNAMA

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