Wednesday 20 March 2013

MALAYSIA’S INCOME

asiaone_logo

HIGH INCOME FOR MALAYSIANS LIKELY BEFORE 2020

The ETP report pointed out that the country's investment as a whole grew by 19.9 per cent in 2012.

AsiaOne, March 20, 2013

PETALING JAYA, Malaysia - Malaysia has the potential to achieve a per capita Gross National Income (GNI) of US$15,000 (S$19,002) earlier than the targeted 2020, based on current projects and barring unforeseen circumstances.

With a robust economic growth surpassing both Gross Domestic Product (GDP) and GNI targets last year, the Government also recorded its highest ever revenue last year, estimated at about RM207bil.

The newly released Economic Transforma­tion Programme (ETP) annual report for 2012 said the country's GNI had risen to US$9,970 (RM31,131) last year from US$6,700 (RM20,920) in 2009, a 48.8 per cent jump in just a period of two years.

Private investments, it said, had also surpassed its 2012 target by 9.1 per cent to reach RM139.5bil, driven by high capital expenditure in the manufacturing, services and mining sectors.

Since the start of the ETP, Malaysia's private investment had tripled to a 22 per cent growth last year as compared to 12.2 per cent in 2011 and an average of 6.7 per cent between 2000 and 2010.

Against the backdrop of a sluggish global economy due to the Eurozone crisis and concerns of fiscal policy reforms in the United States, the Malaysian economy has displayed resilience, buoyed by a robust investment pipeline and expansion in domestic consumption.

(...) [article here]

No comments: