Madani Economy framework addresses key issues, says Khairy

PETALING JAYA: The recently-announced Madani Economy framework addresses key economic issues in the country, says former health minister Khairy Jamaluddin (pic).

He said that Prime Minister Datuk Seri Anwar Ibrahim’s latest economic framework has given Malaysians a clear economic picture that identifies the current economic issues and the steps to solve them.

“The Prime Minister has painted a clear picture of where we are from the lack of new engine growth, the huge gaps between household incomes and Malaysia potentially plunging into a vicious cycle of mediocrity with low wages and less competitiveness,” said Khairy.

“He (Anwar) not only brought up problems but also solutions, I like this. Especially as it also correctly outlined two major components of our economy, which is the need to raise both its ceiling and floor,” added Khairy during his “Keluar Sekejap” podcast on Saturday (July 29).

Khairy said that raising the ceiling would help turn Malaysia into a regional economic leader which would drive up foreign investment into the country while raising the floor would help improve the daily lives of the people.

“His economic philosophy is clear that he doesn’t just want our capital-based economic ceiling to thrive to fly but also the floor to rise together,” he said.

Khairy said that in a typical liberal economy, the floor does not rise with the ceiling and added that it either remains at the same level or falls down.

“Thus, it is useless if the ceiling rises but if the floor does not rise, which Anwar has correctly identified and given solutions. There is clarity now,” he said.

Khairy’s co-host and former Umno information chief Shahril Sufian Hamdan also pointed out that the economic framework was unlike most other election-time promises from before.

“He (Anwar) announced the framework without any pre-conditions or asking for the people to vote for the unity government in the upcoming state polls,” said Shahril.

“It will be implemented and benefit everyone in the country regardless of whether the unity government won the state polls or not,” he added.

On Thursday (July 27), Anwar announced the launch of the Madani Economy which aimed at boosting the Malaysian economy while also any revenue spillover is returned to servicing the people and improving their quality of life.

The economic framework has since received strong public support with experts, economists and associations from various industries agreeing that it was a good start towards building a better Malaysia for all.