Economic Transformation Programme Samples †MyAssignmenthelp.com

Question: Discuss about the Economic Transformation Programme. Answer: Economic Transformation Programme (ETP) TheEconomic Transformation Programme was formulated with the objective of elevating the country under the status of developed nation by 2020 with a targeted GNI per capita of US $15,000. This will be attained by attracting an investment of US $444 billion with the objective of creating 3.3 million new jobs. The target of ETP for 2020 can be attained by imposing 12 national KeyEconomic areas, representing economic sectors, which accounts for significant contributions to GNI (Case et al., 2014). The programme is aimed at strengthening the nations commercial environment to make sure that the Malaysian companies are globally competitive. Measuring the inflation rate increased by 3.63 percent from the previous year in the month June compared to below market rise of 3.9 percent in the previous month and short of market anticipations. It is regarded as the slowest rate of inflation since the January, particularly due the fall in the cost of food and transportation. The unemployment rate in Malaysia for the year 2017 stood 3.4 per cent (Taussig 2013). The number of unemployed person increased by 1.2 per cent with the number of employed person grew by 2.1 percent. The seasonally adjusted unemployment rate stood 3.4 percent. The GDP growth rate rose by 5.6 per cent in the first quarter of 2017 in comparison to 4.5 percent growth in the previous three months and beyond the market expectations of 4.8 percent. It is the strongest expansion since march. Hence, it can be said that ETP explores new areas for growth that enables sectors to increase the value chain. References: Case, K. E., Fair, R. C., Oster, S. (2014). Principles of economics. Pearson Higher Ed. Taussig, F.W., 2013.Principles ofeconomics (Vol. 2). Cosimo, Inc.