Malaysian PM announces new plan to boost economic growth

Malaysian Prime Minister Anwar Ibrahim (Photo: Bloomberg)

Kuala Lumpur (VNA) – Malaysian Prime Minister Anwar Ibrahim on July 27 announced a new plan to boost economic growth with a vision of guiding the country into the world’s top 30 economies over the next decade.

In a speech to announce the country’s new 10-year plan, he also spoke about the aim to achieve a fiscal deficit of 3% of gross domestic product or less, and improving on the country’s human development index ranking to enter the world’s top 25.

These were part of seven benchmarks he listed in the new economic framework to help Malaysia tap the global market, instead of relying only on the domestic economy to generate more growth.

The new plan was announced amid projections that Malaysia's economic growth in 2023 may be lower than in 2022 due to the impact of global crises./.