MEANS FEW ARE GETTING RICHER

Per capita income up by 40%

PENANG: Malaysia’s per capita income rose by 40% in 2007 compared with 2004, said Second Finance Minister Tan Sri Nor Mohamed Yakcop.

He said the per capita income was now RM22,345 (US$6,452) compared with RM15,819 (US$4,163) previously.

“If we compare in terms of US dollar, the per capita income has risen by 55% due to the depreciation of the dollar against the ringgit.

“The Barisan Nasional Government is confident that we will get the people’s mandate again based on the improved economic resilience.

“There will be challenges and we are prepared to meet them,” he told newsmen Saturday after visiting the St Nicholas’ Home here.