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Question: Public Sector Size in Malaysia since the New Economic Policy

Answer:
Since the implementation of the New Economic Policy in 1971, the Malaysian government has become an active player in the economy. This article will discuss the increase in the size of the public sector in Malaysia from 1970 until 2000 using a descriptive approach. The variables discussed are expenditure, revenue and employment in the public sector.

Through these variables, comparison of the size of the public sector can be made between Malaysia and that of several developed and ASEAN countries. This will enable the society to judge whether the size of the Malaysian public sector is too small or too large and to determine the optimum size by considering various characteristics and current needs of the society. Despite the government’s encouragement on liberalization of the economic activities, it was noted that the Keynesian approach continued to be accepted and implemented in this country.

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(Source: Pustaka Negeri Sarawak, 02 Jul 2021)

Source Link: http://repo.uum.edu.my/11956/1/10.pdf