NIBONG TEBAL: Malaysia is well on track to becoming a developed country by 2027 to 2028.
Economy Minister Rafizi Ramli said the country's economic growth under Prime Minister Datuk Seri Anwar Ibrahim's unity government was among the best in Southeast Asia, surpassing projections by economic observers.
He said, in the first five months of this year, 12 Malaysia companies were among the list of 15 companies in Southeast Asia, whose shares had risen significantly.
He said the Ringgit was also among the best in terms of strengthening this year.
"Malaysia is expected to be the country with the most potential in Southeast Asia.
"Malaysia is projected to be a developed country by 2027 to 2028," he said in his speech at the launch of the unity pact election machinery ahead of the Sungai Bakap by-election here last night.
As such, Rafizi urged the people to look at the official figures and not to rely on Perikatan Nasional's TikTok page.
The PKR vice-president said it was based on this spirit that the unity government was set up — to set aside small differences to build a better Malaysia.
He said the unity government of Pakatan Harapan and Barisan Nasional came under attack during its establishment.
"In the early days, it was awkward. In the Cabinet, we too were awkward as well as during the state elections last year.
"But we decided to put everything aside and come together after going through five years of turbulence which witnessed three prime ministers in power during the time.
"It was hard for the world to read us. Investors were also unsure of our direction.
"However, the past 18 months of being together has proven that we are able to steer the country on the right track. People have looked past political and economic instability," he added.
Rafizi also touched on huge subsidies for oil, reaching RM80 billion now.
He said the move to end the diesel subsidies for certain groups would see the targetted groups getting government assistance.
"Instead of billions of ringgit going to oil companies for subsidies, we feel it is better for the money to go directly to the deserving families.
"As such, we introduced the Budi Madani initiative which will see RM200 deposited into the accounts of some 30,000 recipients monthly," he said.