KUALA LUMPUR, May 30 — The mid-term review of Malaysia’s 11th Malaysia Plan is expected to be tabled in Parliament by the end of this year and will be based on the Pakatan Harapan (PH) government’s new economic direction, Datuk Seri Mohamed Azmin Ali said today.

The economic affairs minister said the mid-term review will take into account the priority of the PH coalition’s promises in its GE14 manifesto.

"Besides reviewing the achievements in the first two years of the 11th MP, issues and development challenges will be identified and steps to tackle it will be proposed,” he said in a statement, adding that the review will introduce "progressive socio-economic policies” to complete the government’s initiatives in strengthening its financial position and for institutional reforms.

The 11th Malaysia Plan (2016-2020) is a five-year plan for the country.

Today, Azmin said the Mid-Term Review of the 11th Malaysia Plan (KSP RMKe-11): New Direction 2018-2020 will be in line with PH’s manifesto that focused on both a free market and investor-friendly economy, and a humanitarian economy with social justice programmes at its core.

"The priority of the new government’s policy is to strengthen the government’s financial position where opaque financial practices will be stopped and leakages at all levels will be tackled,” he said.

Noting that drastic short-term measures are required to restore the government’s financial position, Azmin spoke of planned measures to cut costs and tackle the country’s debts.

"The steps to be taken include controlling the government’s operating expenditure and reviewing development projects that are unsustainable, unnecessary and not urgent.

"The government’s debts will also be restructured to reduce exposure to financial risks,” he said.

Noting that Malaysia currently faces the twin challenges of strengthening the government’s fiscal position and maintaining future economic growth, Azmin said that these two objectives would have to be balanced to ensure continued and inclusive development.

While saying that it is currently working to improve its fiscal position, Azmin gave the assurance that the federal government would continue to carry out projects with a high impact on the economy, and that can enhance the public’s well-being.

"The government also views seriously the reduction of the development gap between states regardless of political stance.

"The government will take firm action to reduce the income gap between income groups, especially the B40 group,” he said.