Finance Minister Takes on Economy Role After Resignation

Following a recent party election loss, Malaysia’s economy minister stepped down. Now, the Second Finance Minister is tasked with restructuring the national economic roadmap. This shift raises concerns about the plan’s implementation and its potential impact.

Ministerial Duties Shift

Amir Hamzah Azizan, Malaysia’s Second Finance Minister, will assume the responsibilities of the Economy Minister. This transition occurs a month after Rafizi Ramli resigned from the position, following his electoral defeat.

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The Cabinet made this decision during a Wednesday meeting, as stated by its secretary, Shamsul Azri Abu Bakar, in a Friday announcement. Amir Hamzah’s primary focus involves evaluating and modifying the 13th Malaysia Plan, due for parliamentary presentation on July 31st.

“The restructuring would be rushed and whether it would bypass the consultative process with stakeholders and experts,”

—Rafizi Ramli, Former Economy Minister

The 13th Malaysia Plan is crucial for addressing global shifts and domestic issues. Its implementation will span from 2026 to 2030. Recent projections suggest a 3.8% growth rate for the Malaysian economy in 2024, reflecting moderate expansion (World Bank Data).

Concerns Over Plan Restructuring

The former Economy Minister, Rafizi Ramli, reacted to Shamsul Azri’s statement on Friday. He expressed worries about the plan’s sudden restructuring, sparking unease among civil servants and market analysts.

Rafizi questioned the potential for a rushed process that might bypass consultations with experts. He added that politicizing the plan would be unfair to civil servants who have worked extensively on the project.