PETALING JAYA: The government’s target of raising average household income to RM10,000 a month by 2025 is realistic, says Datuk Eddin Syazlee Shith.

       The Deputy Minister in the Prime Minister's Department (Economy) said the government's target is to increase average household income under the 12th Malaysia Plan (12MP) from RM7,089 in 2020 to RM10,065 in 2025, an increase of 7.3% per annum.

       “The target is realistic based on the achievement of raising the average household income from 2009 to 2019 which is 7% per annum.

       “Apart from that, the target is also in line with the expected gross domestic product (GDP) growth using current prices of 7.4% per annum for the 12MP period, and the goal to become a high-income developed country,” he said in reply to Datuk Mahfuz Omar (PH-Pokok Sena) in the Dewan Rakyat on Wednesday (March 16).

       Mahfuz had asked about the government’s plan to achieve an average household income of RM10,000 per month in order to reach high-income status by 2025 as stated in the 12MP.

       Eddin said the government was confident that the targets set could be achieved by following various macro strategies introduced to restore and strengthen economic fundamentals.

       He said these included efforts to increase productivity, promote quality investment, accelerate economic structural transition, leverage participation in the global value chain, increase the share of workers’ compensation, and ensure long-term fiscal sustainability.

       “Additionally, the role of the private sector will be strengthened so that it returns to being the main driver of economic growth,” he said.

       He added that the government was also committed to increasing and diversifying income sources, including through income generation and capacity building programmes; improving access to basic needs such as education, health and housing; encouraging entrepreneurship and investment in income-generating portfolios; and improving the social protection system.