Malaysia: Is Becoming A High-Income Nation A Dream Or A Reality?



May 16, Kuala Lumpur – Malaysia is gearing itself towards being a high-income economy. In a new series, iMoney considers what it means for Malaysians today and their finances. In 2010, the Malaysian government rolled out the Economic Transformation Programme to turn the country into a high-income economy by the year 2020. It is a comprehensive economic transformation plan to propel Malaysia’s economy into the high-income bracket where the programme seeks to lift the gross national income (GNI) to US$523 billion by 2020 and raise per capita income from US$6,700 to at least US$15,000. This meets the World Bank threshold for a high-income nation. Malaysia is projected to achieve the set targets if GNI grows by 6% per annum. The year 2020 is just three years away. According to Pemandu, the government arm tasked with seeing the programme through, the country is still on track.



Read more at: https://www.imoney.my/articles/malaysia-high-income-nation?utm_source=newsletter&utm_campaign=top&utm_medium=email&utm_source=All+%28New%29&utm_campaign=e2c0495e6e-EMAIL_CAMPAIGN_2017_04_27&utm_medium=email&utm_term=0_d143bc772d-e2c0495e6e-88999805