KUALA LUMPUR – The Prime Minister highlighted the significant strides made under the MADANI Economy framework, introduced last year to address structural economic issues.
The MADANI Economy aims to elevate the country’s stature and economic foundation, driving growth, investment, and local industry competitiveness to reestablish Malaysia as a leading economy in Asia.
The initiative focuses on enhancing social welfare, ensuring meaningful employment, and equitable wealth distribution to build a fairer society. Key policies launched include the National Energy Transition Roadmap, the New Industrial Master Plan 2030 (NIMP), the Mid-Term Review of the 12th Malaysia Plan, and the National Semiconductor Strategy (NSS).
Madani Economy Framework
In the lead-up to the third MADANI Budget for 2025, the Prime Minister noted early achievements:
- Malaysia’s sovereign credit ratings were maintained at A- by S&P Global Ratings and BBB+ by Fitch Ratings, both with a “Stable” outlook.
- GDP growth for Q1 2024 was 4.2%, up from 3% in Q4 2023.
- Export recovery with a 5.2% growth in Q1 2024, reversing an 8.1% contraction in 2023.
- The Bursa FBM KLCI index surpassed 1,600 points, with the domestic equity market reaching a historic value of RM2 trillion.
- Record-high approved direct investments of RM329.5 billion in 2023, 23% higher than 2022.
These milestones underscore the success of the MADANI Economy in driving Malaysia’s progress and prosperity.
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