KUALA LUMPUR: The government is proposed to use approaches such as increasing the gross domestic product (GDP) growth rate by making the national economy more vibrant in order to achieve the target of reducing the fiscal deficit to 3.2 per cent of GDP in 2025.
Putrajaya Member of Parliament Datuk Mohd Radzi Md Jidin said additionally, the government is also advised to increase revenue collection and reduce national expenditure to ensure that the goal could be achieved.
“If in the Shared Prosperity Vision 2030 (WKB2030), there are detailed Key Economic Growth Activities (KEGA) as a guide for the country’s economic growth, what are the new catalysts for the national economy that the government will focus on in the fiscal deficit reduction target,” he said while debating the Supply Bill 2023 in Parliament today.
Meanwhile, he said the government is advised to provide a strong fundamental framework to set a clear direction and propose structural changes in improving the national economy.
He said a fundamental framework is needed before any previous long-term planning is removed.
“This is to ensure that there is clear continuity about the planning that has been, is being and will be implemented,” he said.
Mohd Radzi said WKB2030 was previously used as the basis of national development planning by the previous government.
He said the vision focused on success, set clear targets and emphasised implementation monitoring.
However, he said in the tabling of Budget 2023 on Feb 24, there was a gap in the basis of Malaysia’s development planning with the absence of a clear framework presented by the Unity Government to replace WKB2030. – BERNAMA
