We have been given a glowing review of the Mid-Term performance of the Second Malaysia Plan.
According to the Mid-Term Review, the GNP expanded by 11% annually at current prices during 1971-73. This was brought about by the fortuitous high prices for Malay sia’s export commodities such as rubber, timber, oil, which caused the high growth rate of 20 4% in 1973, in contrast to the moderate expansion in 1971 and 1972 when the GNP gew by 56% and 7.5% respectively.
The Mid-Term Review computes the output in real terms as 6.9% per year, on the basis of an average of 4.1% price increase per year, as compared to the Plan target of 6.8%. Continue reading Mid-term Review: Second Malaysia Plan