Total reset in global institutions crucial to address wide gap in economic growth, income - PM

NEW YORK: A drastic, systemic reform and a total reset of the global institutions is crucial in addressing the wide gap between economic growth and income which leads to continuous disparity, said Prime Minister Datuk Seri Anwar Ibrahim.

He said if this is not addressed, the world would continue to face widening inequality setting apart nations and people.

"The global economy is also projected to continue to be weighed down by geopolitical uncertainties, supply chain disruptions, increase in commodity prices as well as challenging financial conditions," he said in his national statement at the General Debate of the 78th Session of the United Nations General Assembly (UNGA) held at the UN headquarters today.

Anwar also said that as the growth in incomes failed to match economic growth, households became burdened with debt.

"We now have the super-rich living side by side with the ultra-poor. The contrast lies starkly in the things that matter: food on the table, shelter, access to quality education and health care.

"The 2023 Sustainable Development Goals report has confirmed that we are falling behind with nearly a third of the targets either at the state of inertia or worse, regressing," the prime minister stressed.

Meanwhile, Anwar who is also the Finance Minister, also shared Malaysia's efforts in dealing with the climate crisis to achieve the 2030 Agenda, the country's roadmap under the Malaysia MADANI framework as well as several other global issues.

"Early this year, I introduced 'Malaysia MADANI' -- a vision built on the pillars of core values that we believe are indispensable in any harmonious thriving, and peaceful society -- Compassion, Respect, Trust, Innovation, Prosperity and Sustainability.

"These basic principles and moral values also apply in the context of our relations with other countries," he said.

This is his first appearance as prime minister at the annual gathering.

This year's theme for the General Debate is "Rebuilding trust and reigniting global solidarity: Accelerating action on the 2030 Agenda and its Sustainable Development Goals towards peace, prosperity, progress and sustainability for all".

During his official visit to join the other world leaders at the 78th Session assembly, Anwar is accompanied by his wife Datuk Seri Wan Azizah Wan Ismail, Foreign Minister Datuk Seri Dr Zambry Abd Kadir; Home Minister Datuk Seri Saifuddin Nasution Ismail; Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz; Health Minister Dr Zaliha Mustafa; and several Members of Parliament and government officials.

-- BERNAMA