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2016 OECD Economic Surveys: Malaysia 2016

Economic Assessment

image of OECD Economic Surveys: Malaysia 2016

This 2016 OECD Economic Survey of Malaysia examines recent economic developments, policies and prospects. The special chapters cover: Productivity and Inclusive Growth.

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Fostering inclusive growth

Malaysia has followed a comparatively equitable development path, largely eliminating absolute poverty and greatly reduced ethnic inequality. Income and wealth inequality have gradually declined since the mid-1970s. With the people economy at the centre of Malaysia’s ambition to become a high-income country by 2020, the focus is shifting to the challenges of relative poverty and achieving sustainable improvements in individual and societal well-being through inclusive growth. This shift would be aided by reforms in several policy areas where Malaysia may compare favourably within its region but less so relative to OECD countries. This includes reforms to increase access to quality education, provide comprehensive social protection, raise the labour force participation of women and older persons, maintain universal access to quality public healthcare, improve pension system sustainability and adequacy and move towards a tax and transfer system that does more for inclusiveness.

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