Definition of GDP (purchasing power parity): This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries.
In simple language - What people earn and spend in real terms in their domestic economies and value of all goods and services produced in the country valued at prices prevailing in the United States.
Look at the chart below for Malaysia's GDP at Purchasing Power Parity.
Source: CIA World Factbook
MALAYSIA - GDP at Purchasing Power Party
In USD (Billions)
If our blessed country were mismanaged by Barisan Nasioanl as alleged by Pakatan Rakyat , especially with hate rhetoric by so called Economist like Anwar Ibrahim, we would never achieve such high GDP at PPP as being reported by the CIA Factbook. The have no reason to lie to us and anyone else on our GDP at PPP.
This is a very interesting measure of economic condition given for a nation to claim their standings to the people as where we stood economically. No doubt we have poverty among us but the report shows that the majority are moving towards middle class income but as our needs gets bigger, we need more in order to satisfy our needs. That is not the Government's fault. That is something we as citizens, need to learn about a word called prudency or in Malay- Berjimat Cermat. Those numbers showed in the report at our GDP at PPP in 2000 was at USD 220 billions whereas as at 2009 , the numbers went up to above USD 340 billions. This shows that we Malaysians are good spenders as well as good producers. All this is pointing to the fact that how we are being governed. There are opportunities, employment rate remain high with good purchasing power.
Let us look at our poverty % in comparison to the whole population. How many percent of our population are still in poverty ? That should be another good economic indicator.
% Below Poverty Line
% of Malaysians living below poverty line
Source: CIA World Factbook
As at 2009, there are only less than 5.1% of our population under the poverty line (miskin tegar). If we look at the chart we see that the line is moving downwards. So all this rhetoric by our Pakatan Rakyat leaders are all bullshit and blatant lies that our government is corrupted to the core, people are all suffering and we are doing real bad.
In Kelantan, yesterday a friend who lives near Kelantan/Terengganu border called up and told me that , he has to go and take bath in a place in Terengganu everyday as the water supply in Kelantan always got interrupted and the supply is not constant. No one take that as an issue and expose it to the public ? Why ? The Water Management in Kelantan is really atrocious. Just go there and ask the people. Since 1990 till today, PAS Kelantan State Government cant even manage water !
Go and check with the Kelantan state government what is the state GDP at PPP and % under Poverty Line from 1990 till 2011...You will get a shock to learn about these statistics. That is what meant by "KEMUNDURAN" which NIK AZIZ just could not understand. Not his fault. His economic advisors are real morons.
What a pity !