Malaysia middle class to increase by 2020
If Malaysia’s ambitious Economic Transformation Programme is successful, the country might see an increase in its middle class of up to 3.3 million people by 2020. The upper middle class income group might grow as much as 260%. The government programme stresses development in the manufacturing and service industries, in technology, and in environmentally friendly industry.
Currently, Malaysia’s GDP is about $247 billion, and the goal by 2020 is for it to hit $520 billion. In order to achieve this target, the economy must grow at around 6% a year, especially in the fields listed in the Economic Transformation Programme. Government officials are confident that such strides are possible for Malaysia.
If Malaysia’s ambitious Economic Transformation Programme is successful, the country might see an increase in its middle class of up to 3.3 million people by 2020. The upper middle class income group might grow as much as 260%. The government programme stresses development in the manufacturing and service industries, in technology, and in environmentally friendly industry. Currently, Malaysia’s GDP is about $247 billion, and the goal by 2020 is for it to hit $520 billion. In order to achieve this target, the economy must grow at around 6% a year, especially in the fields listed in the Economic Transformation Programme....
If Malaysia’s ambitious Economic Transformation Programme is successful, the country might see an increase in its middle class of up to 3.3 million people by 2020. The upper middle class income group might grow as much as 260%. The government programme stresses development in the manufacturing and service industries, in technology, and in environmentally friendly industry.
Currently, Malaysia’s GDP is about $247 billion, and the goal by 2020 is for it to hit $520 billion. In order to achieve this target, the economy must grow at around 6% a year, especially in the fields listed in the Economic Transformation Programme. Government officials are confident that such strides are possible for Malaysia.
