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'.