By: M. Perry
We were informed that the Gross Domestic Product (GDP) of Malaysia recorded a growth of 5.2% and 6.3 % for the first half of 2014. Some are happy about this growth but there are some who argue that what has the GDP growth has to do with my quality of living?
A growth in GDP evidently shows that Malaysia is on the right track in managing the economy to provide an improved and a better quality of life to all Malaysians.
Generally speaking, GDP is about how the economy of a country perform. GDP is measured by taking into account the expenditure, type of economic activity and income of a country.
Expenditure refers to consumption, investment, government spending and net exports. While, Consumption refers to what people spend their money on- food, petrol, , services such as dressing, visits to doctor, making calls, whatsapp, and so on. More consumption means more money is circulating in the economy.
Investment linked to investments by local and foreign investments which creates job opportunities for Malaysians. Government spending refers to investments to provide a better facilities for people .
Yet there are some who argue that the Malaysian GDP grows but their