KUALA LUMPUR: This year’s federal development expenditure (DE) performance until Aug 15 recorded an increase of 50.35% compared to 26.4% on April 15, says Datuk Seri Ismail Sabri Yaakob (pic).
The Prime Minister said this was informed by the 12th Malaysia Plan (12MP) Highest Monitoring Committee meeting which he chaired yesterday.
“All ministries are urged to raise their expenditure performance.
“Unused allocations must be returned to the Finance Ministry to be rechannelled to ministries in need,” he said in a statement, reported Bernama.
The Prime Minister said the 12MP committee and the National Development Project Implementation Facilitation Committee would continue to look into current issues and problems to speed up the implementation of development projects during the 12MP period.
He also said that the Economic Planning Unit (EPU) would do a 12MP mid-term review to look at and change existing policies and goals to make sure that all goals can be met.
This process would start in September and last for a year.
In line with the target of achieving the status of a high-income nation by 2025, Ismail Sabri said the key performance indicators would continue to be closely monitored.
“This includes ensuring the implementation of interventions that are necessary due to uncertainties in the global economy, geopolitical conflicts that affect inflation rates as well as slow changes in the country’s economic structure,” he noted.
Ismail Sabri also said that Malaysia, which became an ageing nation last year, is expected to become an aged nation in 2044.
He explained that an ageing nation has a minimum of 7% of its population aged 65 and above, while an aged nation has 14%.
As such, Ismail Sabri said the Ageing Nation Agenda blueprint would be prepared to address the issue.
He added that the government is committed to reaching the Keluarga Malaysia hardcore poverty eradication programme’s goal of zero hardcore poverty by 2025.
The first phase of the programme, which kicked off in April, involved 80 localities and some 5,000 household heads, the Prime Minister said.
