KOTA KINABALU: Former Chief Minister Datuk Seri Yong Teck Lee called for Sabah to target at least eight per cent annual Gross Domestic Product (GDP) growth for 10 consecutive years while keeping inflation below three per cent to overcome poverty and close the State’s development gap.
“The Prime Minister’s recent projection of Malaysia’s GDP growth for 2026 at between four per cent and 4.5 per cent, with inflation expected to range from two to three per cent, means the true national growth after adjusting for inflation will be only one to 2.5 per cent.
“Much of the economic gain will be absorbed by rising prices,” said the SAPP President, in a statement, Saturday.
He said he first shared this economic vision in June at the Sabah Business and Economy Seminar where he pointed out that sustained growth at this level is necessary to create jobs, increase incomes and give Sabahans a real chance at better lives.
“In 2022, Sabah’s poverty rate stood at 19.7 per cent. With eight per cent annual GDP growth while accounting for population growth of two to three per cent, the poverty rate could fall to between six and eight per cent by 2035,” he said.
He said Sabah’s strength lies in its natural resources, strategic location near the Lombok-Makassar Strait and proximity to Indonesia’s emerging Nusantara capital region.
“These create unique opportunities for economic expansion, while engagement in initiatives like One Belt One Road makes the eight per cent target achievable.
“Sustained and inclusive growth at eight per cent per year while keeping inflation under control will eliminate poverty, strengthen stability and give every Sabahan a brighter future,” he said.
