$2 bil to $250 bil in 50 years - making sense of it

[yellow_people]

In the Today's afternoon edition, it was reported according to Goh Chok Tong:

"For instance, when one's economy has shot from $2 billion to $250 billion in just 50 years, can the next generation maintain the growth?"

Seems like a lot?

If you start of with $2 billion, with an average GDP growth of between 7.5 to 8% per year for the next 50 years, you will end up with $250 billion.

GCT could have simply stated that Singapore's average GDP growth for the past 50 years was 7.5 to 8%.

What was Singapore's GDP growth for the past 10 years?

 

[R4g3]

$2b to $250b over 50 years, that is 125 times.

their salary from $300 to $3,500,000 over 50 years, that is 11667 times.

if they are boasting about the 125 times, they should be worship for the 11667 times increase of salary, at least by the 66.6%

 

[Char_Azn]

lol. Good point