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This report was given by Eric London to the Seventh Congress of the Socialist Equality Party (US) in support of the resolution titled “Build the International Workers Alliance of Rank-and-File Committees! For a global counteroffensive of the working class!”
16 Mar 2021 / 13:36 H. Bernama
KUALA LUMPUR: The factor-driven growth that has served the country well in the past to bring it on the cusp of attaining high-income status is not enough to carry the nation past the high-income threshold, said Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed (pix).
He said this factor-driven growth is becoming more costly to sustain, with every unit of input injected into the economy yielding less Gross Domestic Product growth compared to the past.
“New sources of growth are needed to ensure that it is driven by multifactor productivity. We need to build a workforce for the future, drive digitalisation, and spur productivity improvements at the sector- and enterprise-levels.