Greater clarity to development planning crucial under 12MP, says MARC

12MP book

PETALING JAYA: The government’s continued commitment towards strengthening fiscal governance under the 12th Malaysia Plan (12MP) and reorganising Malaysia’s development priorities amid the Covid-19 pandemic is commendable, says Malaysian Rating Corp Bhd (MARC).

In the 12MP, the government targets to cut its fiscal deficit to between 3% and 3.5% by 2025 compared to 6.2% in 2020. The success in achieving the target, said the rating agency, would hinge on how the pandemic and the economic restructuring efforts pan out amid an evelated unemployment rate scenario.