PETALING JAYA: At least 50% of development expenditure will be allocated to six least-developed states - Sabah, Sarawak, Kelantan, Terengganu, Kedah and Perlis. This is to ensure a more balanced regional growth and reduce development gaps, according to the 12th Malaysia Plan. As part of enhancing budgeting transparency and aligning priorities under the 12th Plan, government allocations will prioritise high-impact projects that generate higher multiplier effects in the economy. “The Act will institutionalise good principles and practices of responsible fiscal management, particularly in managing fiscal risks, establishing fiscal rules and ensuring prudent public debt management,” it said. “The effectiveness of development projects in promoting socio-economic development will be enhanced by improving the delivery mechanism and revising the regulatory framework.
