COMMENT | 12MP: In search of a realistic new socio-economic strategy

| The 12th Malaysia Plan as unveiled by the Ismail Sabri Yaakob government is a re-affirmation of the New Economic Policy and continuation of the existing approach to both macro-economic management and intervention in the economy.

Since the formulation of the NEP, economic regulation has focused on redistributing wealth rather than creating it. This was well hidden during the high GDP growth years but has become much more apparent during the slower growth rates of the last decade. The issue that needs to be addressed is that the B20, or bottom 20 percent of income earners, share comes to only 5.9 percent of the national income, while the T10, or top 10 percent of income earners, share is 30.7 per cent of national income.The incidence of relative poverty has increased from 15.6 percent in 2016 to 17 percent in 2019, and is continuing to increase rapidly. Economic statistics are lagging...Millions depend on Malaysiakini for the truth.

Pas-Umno-Bersatu crooks' !2MP will only make the rich richer and the poor poorer. How can such a plan be a realistic socio-economic strategy? Bring back SPV 2030.

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