The Pemandu Claims and a Reality Check
The Claim
We used a credible global yardstick – the World Bank’s approach to define our high income target. The World Bank’s current GNI per capita threshold for a high income economy is US$12,476. We factored in the World Bank’s published historical global inflation figure of two per cent until 2020 to arrive at a high-income threshold of US$15,000.
The Facts
Each year on July 1, The World Bank revises the classification of the world’s economies based on estimates of gross national income (GNI) per capita for the previous year…… As of 1 July 2012, the World Bank income classifications by GNI per capita are as follows:
- Low income: $1,025 or less
- Lower middle income: $1,026 to $4,035
- Upper middle income: $4,036 to $12,475
- High income: $12,476 or more
Source: http://search.worldbank.org/all?qterm=COUNTRY%20CLASSIFICATIONS
COMMENT: The calculations are done annually and are not comparable from year to year and cannot therefore be projected. Thus the figure of US$ 15,000 projected by PEMANDU is wholly meaningless.
The numbers cited by the Prime Minister earlier and now repeated in the Report are a fabrication and deviate widely from the GNI per capita numbers for Malaysia published by the World Bank on its web site : http://data.worldbank.org/indicator/NY.GNP.PCAP.CD/countries/MY-4E-XT?display=default Continue reading “21-Day Countdown to 13GE – The empty drumbeats from Pemandu (Part 2)”