KL needs 7% growth until 2020<\/p>\n
KUALA LUMPUR (Reuter): Malaysia's economy will have to grow by
\nat least 7 percent a year until 2020 if the country is to achieve
\ndeveloped country status by then, Prime Minister Mahathir Mohamad
\nsaid yesterday.<\/p>\n
\"According to our calculations, to achieve our target of a
\ndeveloped nation, the growth rate must continue to average at
\nleast 7 percent until the year 2020,\" Mahathir said in a speech
\nto a multimedia conference.<\/p>\n
Analysts have said Malaysia needs to grow by around eight
\npercent a year to achieve developed status by the year 2020.<\/p>\n
Mahathir said the government expected the manufacturing
\nsector's contribution to gross domestic product would peak at
\naround 38 percent by about the year 2005.<\/p>\n
Currently, the manufacturing sector contributes about 35
\npercent to GDP.<\/p>\n
The government has officially forecast GDP growth of around
\neight percent for 1997 and Finance Minister Anwar Ibrahim has
\nsaid growth could be even higher.<\/p>\n
However, a Reuters poll last week showed average expectations
\nof GDP growth of 7.8 percent in 1997 and 6.6 percent in 1998.<\/p>\n
Malaysia's annual GDP growth has topped 8 percent for almost a
\ndecade.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/kl-needs-7-growth-until-2020-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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