Guan Eng: Penang has top GDP growth for 2014-15

Guan Eng: Penang has top GDP growth for 2014-15

Penang chief minister rebuts BN criticism that the state had the lowest per capita GDP growth from 2007-2015.

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PETALING JAYA:
The Penang state government has denied claims about its “woeful” financial performance and touted figures to show that the state had the highest growth rate for per capita gross domestic product (GDP) in 2014-2015.

In a statement today, the chief minister, Lim Guan Eng, countered criticisms made by Barisan Nasional that Penang’s per capita GDP growth rate from 2007-2015 had been the lowest among all states.

Lim pointed out that Penang had recorded only a 5.9 per cent growth rate for 2006-2007, the lowest among all states, when Penang was under a Barisan Nasional government.

By contrast, he said Penang recorded a 6.4 per cent GDP growth rate for 2014-2015, from RM42,130 per person to RM44,847 per person, which he was the highest among all states. He also quoted growth rate figures of 9.5 per cent for 2013-2014 (second-highest), 3.9 per cent for 2012-2013 (third-highest).

However, last week’s criticism was based on an eight-year spread, from 2007 to 2015, for which Statistics Department figures showed a 44 per cent increase in GDP per person, from RM31,039 in 2007 to RM44,847 per person in 2015. The growth rate was the lowest among all states.

Kelantan outstripped Penang with a 73.9 per cent increase from 2007-2015.

Lim said, however, that the Pakatan Rakyat had turned Penang’s economy into “one of the most dynamic in Malaysia” and highlighted its budget surplus of RM574 million accumulated from 2008-2015, and the increase of the state’s assets from RM850 million to RM1.6 billion.

 

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