KUALA LUMPUR, May 21 — Putrajaya is aiming to increase the average monthly household income from RM6,141 last year to RM10,540 in 2020, according to the 11^th Malaysia Plan tabled by Prime Minister Datuk Seri Najib Razak today.

The government’s five-year plan as it aims to turn Malaysia into a developed nation by 2020 also plans to grow the country’s gross domestic product (GDP) by five to six per cent annually.

Gross national income per capita is also targeted to hit US$15,000 (RM54,100) by 2020.

“Labour productivity is expected to increase through the continuous shift from labour-intensive economic activities to knowledge and innovation-intensive ones,” said the executive summary of the 11^th Malaysia Plan.

“All sectors of the economy will register strong economic growth with the manufacturing and services sectors contributing more than 75 per cent to the GDP,” the report added.

The Barisan Nasional government further plans to achieve a 9.4 per cent average growth rate of investments by the private sector by 2020, with the current average totalling RM291 billion.

The average growth rate of investments by the public sector was aimed to hit 2.7 per cent by 2020, with the current average totalling RM131 billion.

Putrajaya also plans to reduce the Malaysian government’s debt-to-GDP ratio to 45 per cent by 2020, even as it hit 54.6 per cent last year and was the second highest among 13 emerging Asian markets according to data compiled by Bloomberg.

Malaysia also aims to achieve a balanced fiscal position in five years’ time, even as the Najib administration has revised the budget deficit target to 3.2 per cent of the GDP for this year due to the plunge in global oil prices.

Inflation was expected to remain below 3 per cent by 2020.