YAB Dato' Sri Mohd Najib Tun Haji Abdul Razak, Prime Minister and Minister of Finance tabled the Eleventh Malaysia Plan (11MP, 2016-2020) in Parliament on Thursday, 21 May 2015.
Six strategic thrusts under 11MP:
(1) Enhancing inclusiveness towards an equitable society.
(2) Improving wellbeing for all.
(3) Accelerating human capital development for an advanced nation.
(4) Pursuing green growth for sustainability and resilience.
(5) Strengthening infrastructure to support economic expansion.
(6) Re-engineering growth for greater prosperity.
The following are the highlights of the 11MP, which has the theme: Anchoring Growth on People:
(1) The five-year plan reaffirms the government's commitment to the people, and the
belief that growth cannot be measured by economic success alone.
(2) The plan reckons that the wellbeing of the people and a commitment inclusive and
sustainable growth are necessary hallmarks of an advance nation.
(3) Malaysian economy to benefit from more robust global economic prospects, recovery of commodity prices and benign global inflation.
(4)11MP also looks beyond 2020 with Malaysia to remain as an open economy, regionally and globally integrated post-2020.
(5) Malaysia's GDP to hit a whopping RM 2.6 trillion in 2030 (RM 1.4 trillion in 2020.
(6) More than 40 percent of total employment will comprise skilled workers in 2030 (2020: 35 pct).
(7) The GDP per capita is projected to more than double to RM.117,260 in 2030
(2020: RM 54,890).
(8) 11MP targets the real Gross Domestic Product to expand at 5.6 percent per annum.
(9) Labour productivity to increase to RM 92,300 in 2020 (2015: RM 77,100).
(10) Gross National Income (GNI) per capita to reach RM 54,100 in 2020.
(11) Average monthly household income to increase to RM 10,540 in 2020 (2014: RM 6,141).
(12) The share of compensation of employees to GDP to increase to at least 40 percent in 2020 (2015: 34.9 pct).
(13) Inflation to remain benign at below 3.0 percent.
(14) 1.5 million jobs to be created by 2020.
(15) Growth would be driven by the private sector with private investment expanding at 9.4 percent per annum.
(16) Manufacturing and services sectors to contribute more than 75 percent of the GDP.
(17) The Federal Government total debt to further decline to below 45 percent by 2020.
(18) Revenue to expand by 7.9 per cent per annum and the dependence on oil-related revenue to decline to 15.5 percent by 2020.
(19) The introduction of GST will bring in a revenue of RM31.4 billion per annum over the next five years compared to RM15.5 billion collected through the sales and services tax during the 10MP.
(20) Literacy rate has increased to 98 per cent, from 75 per cent in 1970.
(21) Poverty rate dropped to 0.6% in 2014, from 49.3% in 1970.
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