Economy Minister Akmal Nasrullah says the government will focus on managing living costs and strengthening resilience through the 13MP framework
PUTRAJAYA: The government will prioritise maintaining economic stability and managing the cost of living amid current geopolitical challenges and global uncertainties. Economy Minister Akmal Nasrullah Mohd Nasir said conflicts in West Asia could disrupt global energy supply and trade flows, triggering commodity price shocks.
He stated this during the launch of the MyRMK System, a monitoring platform for the 13th Malaysia Plan (13MP). Akmal Nasrullah emphasised that such challenges should be viewed as an opportunity to strengthen economic resilience and restructure around value creation.
“The 13MP must be seen not just as a five-year plan, but as the main instrument to drive reform, strengthen resilience and ensure the well-being of the people in a sustainable manner,” he said. The newly launched MyRMK system represents a shift in strengthening national development governance.
It is an integrated platform linking implementation information, financial performance, and output achievement across ministries. Integration with systems like MyProjek and MyBelanjawan will allow for more comprehensive and transparent monitoring.
Monitoring of the 13MP will be conducted through system-based and field-based approaches. Akmal Nasrullah noted that field monitoring is crucial as projects can face real constraints on the ground not visible on paper.
Speaking to reporters afterwards, he said developments indicate the West Asia conflict is unlikely to end soon. He added that global economic recovery would take time even after the conflict concludes.
The Ministry of Economy is closely monitoring key indicators like inflation, supply chain stability, and global transport costs. Relevant ministries will implement operational mitigation measures, while his ministry provides macroeconomic oversight.
A special Cabinet meeting will be held to review the conflict’s impact on the national economy. Initial discussions were held with several ministries to assess the situation.
“We will present the findings to tomorrow’s meeting to be refined and discussed for the next course of action,” Akmal Nasrullah said. Prime Minister Datuk Seri Anwar Ibrahim had earlier announced a special committee to assess the economic impact of the US-Iran conflict.
The committee is chaired by Finance Minister II Datuk Seri Amir Hamzah Azizan. He will work alongside the Economy Minister and other relevant ministers.
