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Structural problems and sluggish global
growth will probably cause Malaysia to miss its aim of maturing into a
high-income economy by 2020, but there is little reason to think the country is
stuck in a "middle income trap," says Capital Economics in a report.
It tips
Malaysia's economy as likely to expand 4.5% annually through 2020, powered by
strong investments under its Economic Transformation Program, which will still
leave the South East Asian country a tad shy from attaining its decade-end goal.
Malaysia's gross national income per person was $8400 last year, well below the
$12,500 threshold for high-income status as defined by the World Bank.
However,
its low incremental capital output ratio, one of the lowest in Asia, suggests
that there is room to boost growth via higher investments.
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