Archive for November 15th, 2009

Prime Minister Najib requires superhuman effort to achieve high income status for the people of Malaysia

Media Statement by Dr Chen Man Hin, DAP Life Advisor in Seremban on 14th November 2009

To achieve high income status for the people of malaysia requeires a revolutionary policy and full support from the people.

PM Najib stated that his intention was to raise the present per capita income of US$7,000 to US$17,000 by the year 2020, assuming that the GDP increases on an average of 9% a year.

Later he revised his targets after realising that the targets were unrealistic. His new estimates were a 6% GDP growth annually and achieve per capita income US$13,000 in 2020.

What are the prospects of achieving a pci of US$13,000 by 2020? Dim.

Historically, it would be near impossible. In 1957 at independence, Malaysia enjoyed a pci of about US$500, the second highest in Asia after Japan. In 2008, Malaysia pci was US$7,000. It took 51 years to reach US$7,000. Year 2020 is 11 short years away to reach US$13,000, when it took 51 years to reach US$7,000.
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