While Malaysia’s economic growth has surpassed the pre-pandemic level, World Bank lead economist Apurva Sanghi
noted the absolute poverty rate in Malaysia stood at 6.2 per cent and was still high from the pre-pandemic poverty rate of 5.6 per cent.
Speaking to reporters on Monday (Oct 2), he said almost half a million households remain below the poverty line.
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noted the absolute poverty rate in Malaysia stood at 6.2 per cent and was still high from the pre-pandemic poverty rate of 5.6 per cent.
Speaking to reporters on Monday (Oct 2), he said almost half a million households remain below the poverty line.
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:00 Now, economic recovery in Malaysia has been strong.
00:03 And as you can see from this figure,
00:05 output has surpassed its pre-pandemic level.
00:09 And only output in real construction--
00:14 sorry, in real estate and construction
00:16 is below post-pandemic levels.
00:18 Output in every other sector is above pre-pandemic levels.
00:23 Now, having said that, as we discuss in the two-pager,
00:26 the country report, we still find that the absolute poverty
00:30 rate in Malaysia of 6.2% is still
00:34 higher than the pre-pandemic poverty rate of 5.6%.
00:38 Now, what do these percentages translate into?
00:40 Well, nearly 490,000 households continue
00:45 to live below Malaysia's own national poverty line.
00:49 So not all households have experienced a uniform recovery.
00:53 So in the macro numbers, GDP has surpassed
00:56 pre-pandemic levels.
00:58 But almost half a million households
01:01 continue to remain below the poverty line.
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