GEORGE TOWN, Nov 24 (Bernama) --
Penang's Gross Domestic Product (GDP) growth dropped to 1.8 per cent in the first nine months of this year, says Deputy Finance Minister Datuk Donald Lim.
He said the performance had placed Penang in the seventh position in the ranking of the country's GDP, behind states like Johor which achieved more than six per cent, exceeding the national GDP.
"Penang has done badly compared with its GDP growth of about five per cent in 2008," he told reporters after 2013 Budget briefing organised by Penang MCA Bukit Gelugor Division, here today.
He said Chief Minister Lim Guan Eng should beef up his efforts to overcome and improve the situation and explain to Penangites on the state's poor GDP performance.
rockybru commented:1.8%. No need to buy new glasses: it is not 18 but one-point-eight per cent. That's how slow Penang GDP grew in the first nine months of the year, according to Deputy Finance Minister Donald Lim. I hope our economists will do a proper analysis on the latest numbers. Is it possible for the state's economy to do so badly so quickly? Just last year Lim Guan Eng claimed that his state had contributed the bulk of FDI into Malaysia.
Read his Feb 2011 posting "Only 6% of the population yet Penang contributes 36% of Malaysia's FDI in 2010".