Deputy minister: There are clear distinctions between MEA and MOF

PARLIAMENT | Deputy Economic Affairs Minister Mohd Radzi Md Jidin explained to the Dewan Rakyat that his ministry is responsible for mid and long-term economic planning.

This is distinct from the mandate of the Finance Ministry, he said, which oversees fiscal and monetary policy, taxation, procurement and the government's finances.

Radzi said this during ministerial question time, in reply to a question by backbencher Wong Chen (PKR-Subang), who had asked him to explain the difference between both.

Elaborating, he pointed out that the Economic Affairs Ministry had taken over the functions of the Economic Planning Unit, which was once parked under the Prime Minister’s Department.

“The Economic Affairs Ministry is responsible for planning, implementing, monitoring and assessing the country’s socioeconomic development.

“(Its mandate) also includes deciding on and distributing development funds for mid to long-term (purposes),” he told the Dewan.

Radzi also noted that both ministries work together to set economic growth targets. - Mkini