Salient. Victoria University Students Newspaper. Volume 38 Number 8. 1975
2-4-75 The Straits Times — S'pore Per Capita Income Doubles To $5,703
2-4-75 The Straits Times
S'pore Per Capita Income Doubles To $5,703
Singapore's per capita income last year was $5,703 — twice as high as that of five years ago — putting the Republic 'well high' among the developing countries.
Describing the per capita income growth as 'very impressive; an economist said the real increase 'was actually no more than 50% because' of inflation and other distribution factors. He was pessimistic that the Republic would be able to sustain the same growth rate in the next five years.
A senior economics lecturer from the University of Singapore said, "The per capita income distribution is not ideal as the trend is not always towards equity. There is still a wide gap between the rich and the poor here'.