The sizeable allocation for development expenditure (DE) under the 12th Malaysia Plan (12MP) will be positive for gross domestic product (GDP) growth, economists said.

The DE, if implemented in a timely manner, would have immediate multiplier effects to the economy, they added.

Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said in a nutshell, the MP12 had covered a lot of grounds.

"With timely implementation, it could accelerate the economic recovery process," Afzanizam told the New Straits Times.

He said as the government set a target to reduce fiscal deficits between 3.0 per cent and 3.5 per cent by 2025, there would be new taxes to be introduced along the way especially when the economic recovery becomes more sustainable.

YAB Prime Minister, Dato’ Seri Ismail Sabri Yaakob has delivered a speech while presenting A Motion on Twelve Malaysia Plan, 2021-2025: Malaysian Family – Prosperous, Inclusive, Sustainable at the House of Representatives on 27 September 2021, 11:30 AM – speech as follows:

Recognizing the challenges of reviving and regenerating the country's economy to achieve sustainable growth, taking into account the post-COVID-19 socio-economic landscape, and the achievements of the Eleventh Malaysia Plan, 2016-2020 commends the Government's efforts to plan and implement a sustainable national development agenda in line with the spirit of the Malaysian Family, the aspirations of the Vision for Shared Prosperity 2030 and the Sustainable Development Agenda 2030;

The approved Twelfth Malaysia Plan for the period 2021 to 2025, which sets a strategic direction to achieve the objective of 'Malaysian Family - Prosperous, Inclusive, Sustainable' by focusing on efforts to revive economic growth, ensuring the country's prosperity can be distributed more fairly and equitably as well as maintaining environmental sustainability by the CMD.1 Order Paper of 2021; and

Here are the highlights of the latest updated SOPs for Phase 4 of the National Recovery Plan (NRP):

Areas Involved:

Federal Territory of Labuan and Negeri Sembilan

*This SOP must be read together with the Special SOP of the Federal Territory of Labuan.

** For areas enforced by EMCO, EMCO SOP in the area is effective until the expiry date of the EMCO.

Effective Period:

*For the Federal Territory of Labuan starting on 26 August 2021 (from 12.01 am)

** For Negeri Sembilan starting on 24 September 2021 (starting 12.01 am).

Here are the highlights of the latest updated SOPs for Phase 3 of the National Recovery Plan (NRP):

Areas Involved:

Perlis, Sarawak, Terengganu and Pahang

*For Sarawak, please refer to the National Rehabilitation Plan SOP Phase 3 Sarawak.

** For areas enforced by EMCO, the EMCO SOP in the area is effective until the expiry date of the EMCO

Effective Period:

Starting 16 August 2021 (starting 12.01am)

*For Terengganu starting on 17th September 2021 (starting 12.01 am

**For Pahang starting on 24th September 2021 (starting 12.01am)

Here are the highlights of the latest updated SOPs for Phase 2 of the National Recovery Plan (NRP):

Areas Involved:

Kelantan, Perak, Pulau Pinang, Sabah, Melaka, Selangor, F.T. Kuala Lumpur, F.T. Putrajaya and Johor.

*For Sabah, please refer to the Sabah National Recovery Plan - Phase 2 SOP.

**For areas enforced under EMCO, the EMCO SOP in the areas is effective until the expiry date of the EMCO.

Effective Period:

Starting August 20, 2021 (from 12.01 am)

*For Melaka, starting on 4 September 2021 (from 12.01 am)

*For Selangor, F.T. Kuala Lumpur and F.T.  Putrajaya, starting on 10 September 2021 (from 12.01 am)

*For Johor, starting on 24 September 2021 (from 12.01 am)

Here are the highlights of the latest updated SOPs for Phase 1 of the National Recovery Plan (NRP):

Areas Involved:

Kedah

*For areas enforced by EMCO, the EMCO SOP in the area is effective until the expiry date of the EMCO.

Effective Period:

Starting August 20, 2021 (starting at 12.01 am)