Growing and Liberalizing for the Last Mile

Published on 18 Dec 2024

Growing Toward High-Income Nation Status

Dr. Wong Chin Yoong stresses Malaysia’s need to maintain a 5% economic growth to achieve high-income status by 2029. Addressing the ringgit’s depreciation is key, requiring a shift toward tradable sectors and liberalized capital policies. Balancing sound policies with steady liberalisation, opening an avenue for Malaysia to achieve sustainable growth and align its economy with long-term goals, solidifying its status on the global stage.

Excerpt:

“When we look back on the past two years of the weak ringgit, the conclusion into which we jump so quickly is to blame the strong dollar. If so, the future is bleak as high-income nation status is beyond reach, isn’t it?”