GDP not true measure of prosperity, focus must be on fair growth, says Abang Johari

AI Summary

Sarawak Premier Abang Johari Openg stated that GDP alone doesn't accurately reflect a nation's prosperity or people's well-being. While acknowledging GDP's role in measuring economic progress, he emphasized the need for equitable distribution of growth. Citing economist Joseph Stiglitz, he highlighted GDP's failure to capture societal inequalities. He advocated for focusing on education as a key development pillar under Sarawak's PCDS 2030, announcing free tertiary education for Sarawakians starting next year. He also stressed the importance of sound financial planning based on consumption, investment, and savings.