A researcher says that strategies to support job creation and wage growth must be implemented by the government. FMTNews Covid19 Poverty KhazanahResearchInstitute
While the overall poverty rate in the country has been reduced, many Malaysians still lack significant savings.
Khazanah Research Institute , in a report titled “Welfare in Malaysia across three decades”, said the growth rate of median household incomes had not returned to pre-Asian financial crisis levels. In a webinar, KRI research adviser Jomo Kwame Sundaram said drawing on lessons from Malaysia’s reaction to the AFC and the global financial crisis in 2008, greater emphasis needed to be placed on wider social security efforts.“We find ourselves in a situation where a great number of people in Malaysia will have difficulty coping with the impact of Covid-19.”
He added: “We need to draw from this as well as previous studies and think about how we can better design our relief measures to ensure at least a decent standard of living for people in this country.”
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