Rafizi Ramli has announced his resignation as Malaysia’s Minister of Economy, citing the loss of his mandate following a defeat in the recent Parti Keadilan Rakyat (PKR) internal elections. His resignation will take effect on 17 June 2025, with Rafizi set to go on annual leave until then.
In a media statement issued Tuesday, Rafizi said his departure is in line with democratic practices, where party leaders who no longer hold internal support should make way for new leadership within the government.
“I joined politics to promote a new political culture grounded in accountability and public mandate,” he said. “Losing the party’s confidence means I can no longer credibly deliver PKR’s policy agenda within the Cabinet.”
Rafizi leaves office having completed his final task: the formulation of the 13th Malaysia Plan (RMK13), which he confirmed has been finalised and is ready for presentation in the upcoming parliamentary session. The plan, he said, places a strong focus on long-term structural reforms—particularly in the education sector.
He urged the Cabinet to maintain the bold policy shifts outlined in RMK13, even in his absence, and commended the Ministry of Economy for its high calibre of public servants and policy execution.
During his tenure, Rafizi championed structural reforms aimed at boosting national productivity, addressing income disparities, and positioning Malaysia for high-income status. His departure introduces a potential leadership gap at a critical point in the country’s economic reform trajectory.
“The journey to restructure our economy for long-term strength and high-income status is far from over,” he noted. “Difficult decisions must continue to be made today for the benefit of future generations.”
Rafizi also expressed his gratitude to public servants, industry stakeholders, the media, and the Malaysian public for their cooperation throughout his term in office.
The Ministry of Economy’s leadership transition will be closely watched by investors and business leaders, particularly as the country prepares to implement RMK13 and navigate a complex global economic landscape.
