Former Economic Action Council executive director Noor Azlan Ghazali says Malaysia must better align its annual budgets with its five-year national development plans (Malaysia Plans) to ensure their effective implementation.
The economist noted that in past planning cycles, the country often suffered from a disconnect between long-term strategic plans and short-term fiscal implementation.
He also said he was looking forward to seeing how the Madani Economy framework, which celebrated its second anniversary last Sunday, will be integrated into the 13th Malaysia Plan, which is set to be tabled in Parliament tomorrow.
“The Malaysia Plan for the next five years (2026-2030) should serve as a primary foundation for all national (development) efforts. The annual budgets in the next five years must be aligned with the objectives of the 13MP while being tailored to meet the current year’s needs,” he said in a Facebook post.
“A five-year plan emerges once every five years, with a mid-term review in the middle. The national budget is presented every year. The finance and economy ministries must ensure better alignment between the two.
“Formulating a national development plan is no easy task, but it’s the implementation that ultimately determines its success.”
Earlier today, Prime Minister Anwar Ibrahim officially received the 13MP document, which he said was drawn up as a comprehensive development plan with a focus on uplifting Malaysians fairly and equitably.
Anwar said the 13MP’s preparation involved extensive engagement sessions with a wide range of stakeholders to ensure it would present an accurate reflection of the nation’s future planning.
