News Headlines
Report: GDP growth at 5.8% by 2050
The Star - 05 Mar 2008
KUALA LUMPUR: Malaysia's gross domestic product (GDP) growth is expected to be at 5.8% per annum by 2050, just below the average 6.4% per annum predicted for E7 economies comprising China, India, Brazil, Mexico, Russia, Indonesia and Turkey, according to a new report by Pricewaterhouse Coopers LLP (PwC).
PwC Malaysia managing director Chin Kwai Fatt said Malaysia's challenge would be to remain relevant and competitive against its neighbouring countries.
“Malaysia should capitalise on its abundant resources - from real estate to palm plantation harvests - to supply to the region's burgeoning industrial and consumer markets,” he said in a statement yesterday.
PwC said investors would have to look beyond Brazil, Russia, India and China (BRICs) for future growth opportunities.
Its latest report, The World in 2050: Beyond the BRICs, suggested that the long-term prospects for China, India and other E7 economies were still upbeat.