Watch your back, Lion City, with every day that passes, the Malaysian economy inches closer overtaking our formidable rival.
Bloomberg reports that for the third year running, and amidst political and financial scandals, the gap between the two neighbors is narrowing.
In 2017, Malaysia’s gross domestic product was approximately US$9.4 billion less than Singapore, according to data via the World Bank. By 2019, economists expect the deficit to decrease to just over US$2 billion.
According to economists surveyed by Bloomberg, this year saw Malaysia’s economy grow by 5.5%, while our neighbor to the south increased by only 3.1%.
So – jom, celebrate?
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