Malaysia's capital city of Kuala Lumpur (Photo: internet)
Kuala Lumpur (VNA) ꦕ– Malaysian officials have said the country has escaped the ‘middle income trap’ thanks to stable growth of the Gross National Income (GNI), especially after the implementation of𝄹 the Economic Transformation Programme (ETP).
Performance Management and Delivery Unit chief executive officer Datuk Seri Idris Jala said the country’s annual GNI per capita was 10,570 USD in 2015, only 15 percent away from the high-income economy benchmark.
Malaysia’s GNI per capita was 8,280 USD in 2010, representing a gap of 33 percent.
Jala said the outcome has shown clear evidence that the country has become unstuck from the middle income trap, adding that Malaysia is also gradually removing subsidies and carrying out various reforms to lower the budget deficit and stimulate private investment growth.-VNA
Malaysia’s proposal to form a global-level secretariat to combat terrorism was unanimously agreed to at the Counter-Terrorism International Convention held in Bali, Indonesia, on August 10.
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An oil tanker carrying 900,000 litres of diesel was hijacked after leaving a Malaysian port, according to the Malaysian Maritime Enforcement Agency (MMEA).
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
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A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
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Malaysia's capital city of Kuala Lumpur (Photo: internet)
