On April 25, 2024, a report was released focusing on the economic developments and outlook of Malaysia, as well as the efforts in strengthening foundational skills within the country. The report highlighted key findings and recommendations for the future.
In terms of economic developments, Malaysia is projected to experience a higher growth rate of 4.3 percent in 2024, following weaker-than-expected growth outcomes in the previous year. The report emphasized that domestic demand will continue to be the main growth driver, supported by a partial recovery of global demand for goods. However, considerable downside risks remain, both externally and domestically, particularly concerning household consumption and fiscal reforms.
Regarding foundational skills, Malaysia has achieved near universal primary education with remarkable equity in resources and student experiences. Despite this, many children, especially those from disadvantaged backgrounds, face challenges with learning outcomes. The report pointed out that early school readiness skills are lacking in a significant portion of children, leading to difficulties in reading, writing, and mathematics throughout their schooling.
To address these challenges, Malaysia has implemented programs such as the Reading Aid Programme and the Primary School Literacy and Numeracy Program. However, there is a recognition that more needs to be done to improve learning outcomes. The report suggested several steps to enhance educational practices, including ensuring high-quality preschool education for all children, improving access to early childhood education for poorer children, measuring student learning outcomes against international standards, and providing support for teachers through effective training programs and policies that consider their experiences and needs.
The report's emphasis on strengthening foundational skills aligns with the government's focus on improving living standards and access to education for Malaysians. By addressing the challenges in learning outcomes, Malaysia aims to equip its youth with the necessary skills to thrive in a rapidly evolving global landscape.
Through a comprehensive analysis of economic developments and efforts in strengthening foundational skills, Malaysia seeks to navigate the current uncertainties and pave the way for a more resilient and prosperous future.