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RM3000 is Poverty Line for Malaysian Household Income

In handling the Budget 2012, our government major challenge is how to minimise the financial burden on people effectively. At the same time, it also needs to avoid transferring the people burden to the government in order not to destroy our economy. Therefore, while introducing citizen friendly measures to minimise their burden, there must also be measures to stimulate nation economic growth.

RM3000 poverty line

According to a Bureau of Statistics survey, out of a sum of 5.8million Malaysian households, a staggering 60% of them have household incomes of less than RM3,000.

Our government use RM3,000 as a demarcation line for low income group is actually in line with the living expenses under the current economic situation. According to the average monthly household spending by the Bureau of Statistics in Aug, the average expenditure for a Malaysia family in the 2009/10 period has increased by 12.1% as compared to 2004/05 which means an increase from RM1,953 to RM2190 per month.

With the average monthly expenses approaching RM2,200, this means that for a family that earns no more than RM3,000 would be living a very deprived life. Our Government must be ready to face financial pressure if it’s going to give out candies through Budget 2012. Also, the subsidy scheme should ultimately be continued as originality schedule. Then, it only can aid in our nation economic development which in par with our developing nation.

Tags: , , October 23rd, 2011 Posted in Economic Analysis | 11,869 views

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