Malaysia to become high-income nation

  • Business Premium
  • Tuesday, 02 Jul 2019

Economic monitor: Economic Affairs Ministry secretary-general Datuk Saiful Anuar Lebai Hussen (centre), World Bank country director for Brunei, Malaysia, Philippines and Thailand Mara Warwick and United Nations Resident Coordinator for Malaysia, Singapore and Brunei Stefan Priesner at the launch of the World Bank’s latest Malaysia Economic Monitor and the kick-off conference of the 12th Malaysia Plan.
— Bernama

PUTRAJAYA: The macroeconomic challenges faced by Malaysia are expected to continue, but the World Bank has reaffirmed its confidence that Malaysia’s aspiration to become a high-income nation by 2024 remains possible, as long as the country’s gross national income (GNI) per capita continues to grow at a range of 4% to 4.5%.

The Washington-based World Bank also said Malaysia could exceed the high-income threshold as early as 2021.

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