In a magazine article published in Singapore, he said the implementation of the goods and services tax (GST) was a “headline policy of note” that had helped Malaysia to undertake fiscal reforms and handle the cost of living.
Idris, once head of the government’s now-defunct Pemandu unit, said: “There is still more we must do to tackle the growing challenges around cost of living, but our ability to do so rests on the back of a strong, stable economy that continues to grow.”
Malaysia’s gross national income per capita had increased from US$3,460 in 2000 to US$9,860 in 2016, with almost a 70% increase from 2006 to 2016 alone,” he said.
Idris also said the government’s New Economic Model had catalysed Malaysia’s recent success, being particularly targeted at avoiding the middle-income trap.
He said a push towards a more diversified economy and major fiscal reforms had also been credited for avoiding the worst of the oil price shocks.
He added that Barisan Nasional’s manifesto for the general election had focussed on addressing living costs for the poor.
“The fourteen point manifesto is built on pillars of social inclusion and social support, with job creation and affordable homes a key pledge, alongside a reimagining and strengthening of support offered through 1Malaysia People’s Aid (BR1M),” he said.
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http://www.freemalaysiatoday.com/category/nation/2013/10/22/gst-will-benefit-the-rich-hurt-the-poor%E2%80%99/