The status can be achieved a year earlier if the ringgit’s performance remains at its current level, says the bank’s lead economist for Malaysia.
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https://www.freemalaysiatoday.com/category/nation/2024/10/08/malaysia-to-become-high-income-nation-by-2028-says-world-bank/
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Read More:
https://www.freemalaysiatoday.com/category/nation/2024/10/08/malaysia-to-become-high-income-nation-by-2028-says-world-bank/
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NewsTranscript
00:00The World Bank has predicted that Malaysia will achieve a high-income nation status by
00:072028.
00:08Apurva Sanggi, the bank's lead economist for Malaysia, said the country might achieve
00:14the goal a year earlier if the ringgit's performance remains strong.
00:19The World Bank also upgraded its forecast of the nation's gross domestic product growth
00:24from 4.3% to 4.9%, Pernama reported.
00:29Apurva said political stability and a conducive policy environment contributed to the upgraded
00:35forecast.
00:37He said improved sentiment, external factors, robust domestic data, as well as several government
00:43reforms have boosted the ringgit's position.
00:47Apurva also said Malaysia's per capita output growth was 12% higher than pre-COVID-19 pandemic
00:54levels, outperforming its Southeast Asian neighbours.
00:59Natasha Bust, FMT News.