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MALAYSIA’S financial markets have demonstrated remarkable resilience amid global economic fluctuations, with the Ringgit appreciating by 15.2 per cent between January 2025 and February 2026, one of the highest gains among regional currencies.
In comparison, China’s Renminbi strengthened by 6.6 per cent, Thailand’s Baht by 10.4 per cent, and the Singapore Dollar by 8.4 per cent, while India’s Rupee, Indonesia’s Rupiah, and Vietnam’s Dong weakened relative to the US Dollar. The Philippine Peso saw marginal change at 0.5 per cent.
Senator Datuk Dr. Mustafa bin Musa highlighted these developments as evidence of a stronger, more resilient Ringgit, reflecting Malaysia’s continued efforts to reinforce macroeconomic fundamentals, boost investor confidence, and implement structural reforms under the 13th Malaysia Plan (RMK13).
Youth poverty remains a key focus for the Government.
Senator Mohd Hasbie Muda raised concerns about poverty among young people, defined under Malaysia’s Youth Policy as individuals aged 15 to under 30.
In reply, Economy Minister Akmal Nasrullah Mohd Nasir, during the winding up debate in the Dewan Negara today, said data from the 2024 Household Income and Expenditure Survey (HIES) shows absolute poverty among households led by youth has declined to 4.1 per cent in 2024 from 4.8 per cent in 2022.
The Government continues to prioritise equitable growth to ensure that all Malaysians, including the youth who are pivotal to national development, benefit from economic progress.
RMK13 (2026–2030) has been designed to enhance social mobility through a “whole-of-nation” approach aligned with the Economic MADANI framework, ensuring opportunities are accessible across education, health, and household living standards.
In the short term, social assistance programmes such as Sumbangan Tunai Rahmah, Sumbangan Asas Rahmah, the Department of Social Welfare’s targeted aid, and the Payung Rahmah programme provide support to households, including youth, to address living costs and reduce inequality.
“Over the medium and long term, RMK13 adopts the dual approach of “Raising the Floor: Enhancing Citizens’ Status” and “Raising the Ceiling: Restructuring the Economy” to reduce inequality and expand social mobility,” Akmal said.
“The plan includes improvements to healthcare from pre-birth to old age through initiatives such as the 1,000 First Days of Life programme, child nutrition recovery, and the MADANI Medical Scheme.
“Access to education from early childhood to higher learning will be expanded, alongside targeted financial support, tuition assistance, scholarships, and lifelong skills training including Technical and Vocational Education and Training (TVET) to enhance employability for low-income households,” he added.
Employment policies under RMK13 will address skills mismatches and wage disparities, with progressive wage policies and periodic reviews of minimum wage requirements.
Housing initiatives focus on quality and affordable residences for low- and middle-income households, including the MADANI Residency and People’s Residency programmes, alongside improved rental-to-ownership options.
Rural infrastructure development will ensure access to clean water, electricity, and broadband to enable equitable participation in social and economic life.
“The Government also seeks to strengthen entrepreneurship, micro-enterprises, cooperatives, and social enterprises, particularly in high-poverty or remote areas, with financial support and digital economy participation to boost income generation. Income-generation programmes will be coordinated and expanded, including the People’s Income Initiative and Community Economic Empowerment Programme, to enhance poverty alleviation outcomes.”
Akmal added, comprehensive social protection reforms are also underway through the National Social Protection Policy to provide inclusive coverage for all citizens.
The minister said: “RMK13 further prioritises a stable, transparent, and competitive business environment as a prerequisite for sustainable and inclusive growth. Regulatory barriers will be reduced, procedures streamlined, and inter-agency coordination strengthened to ensure policies are predictable and consistently applied.
“The ecosystem for small and medium enterprises (PMKS) will be enhanced through coherent legislation, sustainable financing models, and value creation opportunities across key economic sectors.”
Meanwhile, Senator Tiew Way Keng emphasised the importance of monitoring and execution.
To this, Akmal reiterated that the government is committed to ensuring that RMK13 delivers tangible results, particularly in education, housing, healthcare, and public transport.
Implementation will be guided by key performance indicators and success metrics, supported by the MyRMK system to track progress in real time and enable swift, effective interventions. - March 3, 2026