PETALING JAYA: According to World Bank simulations, Malaysia is projected to achieve high-income status as early as 2020. The World Bank currently defines high-income economies as those whose gross national income (GNI) per capita stands at US$12,236 (RM49,916.76) or more. The World Bank raised its 2017 growth estimate for Malaysia's economy to 5.8%, which would be the highest annual growth rate since 2014. With both domestic and external demand expected to remain robust, the World Bank said that Malaysia's growth is likely to remain strong into 2018. With a strengthening economy, the World Bank said that it offers an opportunity for Malaysia to focus on structural reforms for the transition to a high-income economy.

Source: The Star December 16, 2017 10:52 UTC