VERY soon, Malaysia will pass the GNI per capita threshold and move into a more exclusive classification of economies – high income. While that can be measured, it is difficult to put a number on what high income will mean for Malaysians. But one thing is certain – it will raise expectations of improved living standards and efficient service from modern institutions.
There is consensus that institutions matter for growth. The Covid-19 pandemic has placed public sector institutions across the world on the hot seat as governments struggle to provide not just healthcare facilities but also revive economies and ensure social protection for the most vulnerable. Building and maintaining the trust of the rakyat is important as it has long-term implications for reforms that are critical for sustained growth.