Malaysia 18% shy of high-income nation target


Sheridan Mahavera

Prime Minister, Najib Razak says the government has also lifted 100,000 individuals out of poverty through the 1AZAM entrepreneurship programme for low-income households, at UiTM Shah Alam, Selangor, today. – The Malaysian Insight pic by Kamal Ariffin, May 23, 2017.

THE gross national income (GNI) per person in Malaysia has gone up to US$10,010 (RM42,978), just 18% shy of the US$12,275 it needs to achieve to be declared a high income nation, said Prime Minister Najib Razak.

This was among the achievements Najib boasted of in his signature National Transformation Programme, as he gears up to lead the ruling Barisan Nasional in the general election speculated to be held this year.

The GNI per capita for 2014 was US$11,120.

Speaking to a packed hall in Shah Alam this evening, Najib said the government has also raised the average monthly income of the bottom 40% households to RM2,537 from RM1,847.

The government has lifted 100,000 individuals out of poverty through the 1AZAM entrepreneurship programme for low-income households last year, Najib said.

Najib trumpeted these milestones as his administration continues to battle low popularity ratings and a resurgent opposition led by his once mentor Dr Mahathir Mohamad.

“As a efficient, effective and systematic government, we have managed to overcome many obstacles year after year,” Najib said in his speech.

“This is even while there are those who say Malaysia is a failed state or that we are going bankrupt. But our bold decisions have built momentum and put us on a firm and healthy economic footing.”

Among the other achievements that Najib announced were:

* Maintaining an average economic growth rate of 5.1% every year since 2010 to 2016, which is twice the average growth rate of the world economy.

* Creating 2.26 million new jobs, which is 69% of the 2020 target of 3.3 million new employment opportunities.

* Reducing the national fiscal deficit from 6.7% in 2009 to 3.1% in 2016.

* Increasing foreign direct investment to RM41 billion by 2016, up from RM5.1 billion in 2009.

* By 2016, the government had also built 6,042km of rural roads; provided clean water and electricity to 350,000 and 153,000 remote households, respectively, and built or repaired an additional 100,000 houses for the rural poor. These initiatives have benefitted 6.2 million rural residents.

* Bringing down the national crime index by 47%.

* Increasing women’s participation in policy making roles by 35.8% in the public sector in 2016. In the top 100 public listed companies, women’s participation in the board of directors has gone up to 16.8%while the proportion of women in policymaking roles has gone up to 26.7%.

* Earning RM82 billion in tourism revenue in 2016, up from RM69 billion in 2015. – May 23, 2017.
 


Sign up or sign in here to comment.


Comments


  • A higher economic growth simply means the base is small. 5 per cent of 100 is 5. 1 per cent of 1000 is 10. So, 1 per cent in this case is more than the 5 per cent in the earlier case.

    There are lies, damn lies and statistics.

    Not so long, we were told that US$15, 000 is the threshold for a high income nation.

    The High Income Skim Cepat Kaya Cash is King Bugis cannot continue to buat tak tahu that he presided over the 1MDB and SRC International financial scandals.

    Billions have been stolen.

    Those responsible must be brought to justice.

    Posted 9 years ago by Joe Fernandez · Reply