Under its selected targets for the plan, it wants to see compensation of employees to reach 40% by the end of the plan period from 37.2%.
Importantly, the government wants to see a more than double increase in the Malaysian wellbeing index growth per annum of 1.2% from 0.5% in the 11th Plan. The report said the government will step up its efforts to boost productivity growth under the 12MP with the MFP expected to contribute 40.4% to the GDP growth.It also said on the demand side, the private sector will continue to be the key driver of growth. Private consumption is expected to increase at an annual average rate of 5.8%.
Private investment will rebound and is expected to grow at 3.8% per annum or an average RM258bil at current prices compared with RM233bil in the 11th Plan.
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