Malaysia to be the world's 24th biggest economic power by 2050: PM Najib

KUALA LUMPUR: Malaysia is set to become the world's 24th biggest economic power by 2050, said Prime Minister Datuk Seri Najib Abdul Razak.

In his blog, Najibrazak.com, the prime minister said there were several factors which influenced a country's economy, including its gross domestic product (GDP) performance and foreign investor's confidence in its economic strength.

"According to the report from the world's largest professional services organisation, PricewaterhouseCoopers (PwC), Malaysia will be listed as the world's 24th largest economic power in 2050, based on its study of the GDP growth and the foreign investor's confidence in the country's economy," he added.

Najib said Malaysia's GDP growth during the first quarter of the year (1Q17) had surpassed the expectations of economic experts at 5.6%, four per cent higher year-on-year, adding it had also increased to 5.8% in the 2Q17.

He said these achievements would benefit the people, as the strengthening economy enabled the government to provide better services to the people, such as building more hospitals and clinics, and providing aid to the less fortunate.

"In conclusion, a nation's economic growth does not happen in a day or in a short time. It takes a long time and careful planning.But, it can be undone in the blink of an eye.

"Therefore, we should not get involved with any elements or parties which are trying to undo what we have been doing, because this is our homeland," he added. — Bernama