High-income status meaningless if inequality persists, say economists

[superadmin]

PETALING JAYA: The government must not be fixated on high-income status and boosting average household earnings, economists say, as these metrics do not account for inequalities or the standard of living.

Becoming a high-income nation, which as of 2020 required a country’s gross national income (GNI) per capita to exceed US$12,535 (RM52,490), does not necessarily mean the people have more money or are happier, they added, in response to Prime Minister Ismail Sabri Yaakob’s tabling of the 12th Malaysia Plan (12MP) in Parliament yesterday.

In his speech, Ismail said the country was aiming to exceed the GNI per capita threshold in the next five years, and for the national household income to rise above RM10,000.

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