MSIA MUST GROW 8 PCT ANNUALLY TO ACHIEVE DEVELOPED STATUS, SAYS PM

KUALA LUMPUR, Aug 28 (Bernama) -- Prime Minister Najib Tun Razak
said Malaysia must grow at an annual rate of eight per cent, over 10 years, if
the country wants to achieve the developed nation status by 2020.

" Anything less will delay our goals" he said in a keynote address presented
at the National Economic Advisory Council (NEAC) inaugural meeting here Friday.

To achieve the status, Najib said Malaysia must not only be well-off but
also act and live in a manner that reflected that status.

The Prime Minister said there were important social and quality of life
measurements to be factored in when considering the country's objectives
and success.

He said Malaysia's quest to achieve developed nation status would depend on
two criteria.

" The first requires surpassing the threshold to become a higher income
economy and secondly, as an advanced economy, we must attain the International
Monetary Fund (IMF) ranking of a higher human development index score.

-- BERNAMA