PETALING JAYA: The 12th Malaysia Plan (12MP) mid-term review will play a key role in enhancing social protection and providing Malaysians with better income opportunities, say economists.
Speaking to FMT, two economists noted that as part of its focus on developing a prosperous society, the 12MP mid-term review will boost poverty eradication efforts, increase Malaysians’ standard of living, and improve their access to basic services.
Yeah added that the review is also aimed at ensuring lower-income groups are more resilient to cost of living pressures in housing, healthcare, education and other key needs.In terms of the country’s social protection system, the review now takes into account the different risks and vulnerabilities faced by individuals throughout their life-cycle, and formulating guidelines on informal workers for more comprehensive social protection.
The Rent-to-Own programme will be expanded to enhance housing accessibility, and collaboration with financial institutions will be pursued to offer attractive and sustainable housing financing packages. The government has also launched Inisiatif Pendapatan Rakyat , a two-pronged strategy that focuses on increasing household income and resolving economic structural issues.
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