PM: RM400bil set aside for ongoing, new projects under 12MP

KUALA LUMPUR: A total of RM400bil will be set aside for ongoing projects and to implement new ones under the 12th Malaysia Plan (12MP), says Prime Minister Datuk Seri Ismail Sabri Yaakob (pic).

He said that he had received numerous proposals from the public and lawmakers on how to handle the nation's health and economic crises due to the Covid-19 pandemic.

"Owing to the enormous need to protect lives and livelihoods in 2020 and 2021, room for the implementation of development projects is limited and this is expected to continue until next year," said Ismail Sabri.

"As such the RM400bil development allocation will be focused on continuation of projects and the implementation of new ones," he added when tabling the 12MP in Dewan Rakyat on Monday. (Sept 27).

Earlier, Ismail noted that a total of RM 248.5bil was allocated for development under the 11MP between 2016 and 2020.

However, he said that the nation was not spared the effects of the global pandemic which affected economic growth.

He said the nation's economy shrank drastically by 5.6% last year although it saw an average growth of 4.9% in the first four years under the 11MP.

To address this, he said that the government had implemented eight economic aid and stimulus packages since March 27 last year to stablise the nation's economy.

"The national gross domestic product (GDP) has expanded by 16.1% in the second quarter of 2021 after having shrunk for the last four quarters," he said.

Ismail unveiled the five-year (2021-2025), themed 'A Prosperous, Inclusive, Sustainable Malaysia', aims to steer the nation out of the Covid-19 pandemic and putting the economy back on track.

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