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WKB 2030 target GDP takes into account effects of inflation, says Malaysian minister
KUALA LUMPUR (Bernama) – Malaysia’s target gross domestic product (GDP) of RM3.4 trillion in the Shared Prosperity Vision 2030 (WKB 2030) was calculated based on nominal or current prices that take into account the effects of inflation, says the Economic Affairs Ministry.
It is said to meet the target of RM3.4 trillion in 2030, the GDP has to grow 4.7 per cent annually at constant prices between 2018 and 2030 with the average inflation rate at 2.3 per cent for the period.
“In other words, the GDP target of RM3.4 trillion can be achieved with nominal prices growing seven per cent for the period from 2018 to 2030,” it said in a press statement.
WKB 2030 clearly differentiates the two measurements, in line with the statement by Minister Datuk Seri Mohamed Azmin Ali after the launch of WKB 2030.
WKB 2030 sets out one of the directions for the nation to confront the various challenges in the coming decades and it is important for all quarters to unite and focus on the same objective so that all levels of society can achieve the eagerly anticipated prosperity and success, he said.
Source: https://borneobulletin.com.bn/wkb-2030-target-gdp-takes-account-effects-inflation-says-malaysian-minister/