Launching the 12th Malaysia Plan in parliament, Ismail Sabri said the country’s financial position was expected to improve in 2023, with the economy targeted to grow 4.5%-5.5% per annum in the next five years. Malaysia now expects to reach that target by 2025, Ismail Sabri said. “The 12th Malaysia Plan is a comprehensive development plan that will introduce a number of reforms to ensure sustainable economic growth and more equal distribution of opportunities and results,” Ismail Sabri said. The government will spend 400 billion ringgit ($95.53 billion) on existing and new development projects between 2021 and 2025, compared with 260 billion ringgit in the 11th Malaysia plan, Ismail Sabri said. Malaysia also aims to become a carbon neutral country by 2050, Ismail Sabri said, adding that economic instruments such as carbon pricing and a carbon tax will be introduced.

Source: Philippine Daily Inquirer September 27, 2021 08:26 UTC