Malaysia Poverty Rate Spikes To 8.4% In 2020 Due To Covid-19
Author Avatar
(Image: The Malaysian Reserve)

Malaysia’s poverty rate has shot up to 8.4% in 2020 due to the Covid-19 pandemic, revealed economic affairs minister Mustapa Mohamed. In 2019, the poverty rate stood at 5.6%.

These measures of poverty are based on the updated poverty line income methodology of 2019 (PGK 2019). Based on this same measure, the poverty line would have been at 7.6% in 2016.

According to Mustapa, the pandemic had caused disruptions to people’s income, leading to many more households being exposed to poverty. This is especially for those in the B40 and most vulnerable categories. However, said Mustapa, Malaysia had been overall successful in managing poverty and improving the quality of life.

(Image: Bernama)

The minister highlighted issues such as malnutrition, the increasing burden of healthcare, the digital divide, inequality, environmental concerns, and inclusive development as the biggest challenges in the government’s agenda of eradicating poverty by 2030.

In an effort to formulate strategies on the best way forward to manage poverty during the pandemic, the government will be setting up the Poverty Circle, consisting of representatives from the government, private sector, civil society, and academics. It will be coordinated by the Economic Planning Unit in the Prime Minister’s Department for Economic Affairs.

Besides that, Mustapa also said that Malaysia had sent its Voluntary National Review 2021 (VNR 2021) to the High-Level Political Forum on Sustainable Development at the United Nations, to be held in July. The VNR 2021 highlights the nation’s progress in achieving all 17 of the sustainable development goals for the period of 2016 to 2019/2020.

(Source: Free Malaysia Today)

0 0 votes
Article Rating

SHARE

Comments (0)

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
Top Personal Finance News Articles
Post Image
Petrol Price Malaysia Live Updates (RON95, RON97 & Diesel)
The RinggitPlus Team
- 4th August 2021
We provide weekly updates on every Friday at 5pm on the prices of RON95, RON97 and Diesel in Malaysia and a chart that shows the movement of fuel prices across a 6-week period. Bookmark this page now!
Post Image
Touch n Go RFID: What Malaysian Road Users Need To Know
Jacie Tan
- 10th August 2018
Everyone’s talking about Touch ’n Go RFID being used at Malaysian highway tolls soon – here’s what you need to know about it.
Post Image
Malaysian Banks And Local Institutions Offer Financial Assistance For Customers Affected By Covid-19
Alex Cheong
- 1st April 2020
(Last update: 1 April 2020, 3.40pm to include FAQs by banks.) With Malaysia going into an extended period […]
Post Image
How to Decide Whether to Buy a New or Used Car
The RinggitPlus Team
- 25th January 2019
Considering an upgrade on your wheels or a first car? The eternal question would be whether to buy a new or used car. We take on the question of buying new or used and turn it inside out to help you make a decision.

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image