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Poor households in Malaysia rise due to COVID-19 pandemic

The current health and economic crisis caused by the COVID-19 pandemic has caused 580,000 households in the M40 group (middle income) to drop in rank to B40 group (low income), according to Malaysian Prime Minister Ismail Sabri Yaakob.
Poor households in Malaysia rise due to COVID-19 pandemic ảnh 1Illustrative image (Photo: cungcau.vn)

Kuala Lumpur (VNA) - The current health and economic crisis causedby the COVID-19 pandemic has caused 580,000 households in the M40 group (middleincome) to drop in rank to B40 group (low income), according to Malaysian Prime Minister Ismail Sabri Yaakob.

The number is equal to 20 percent of the total households in the M40 group, the PM said when replying to a question by the opposition in the parliament.

Previously, these households' monthly incomes ranged from 4,850 RM to10,959 RM (1,150-2,600 USD), but since the COVID-19 pandemic broke out inMalaysia in early 2020, rising unemployment has reduced incomes of householdsin groups M40 and B40.

The number of absolute poor households in 2020 alsoincreased to 8.4 percent, compared to 5.6 percent in 2019.

The threshold for identifying poor households inMalaysia is currently a monthly income of 2,208 RM or less.

In 2022, the government will revise the threshold for defining poorhouseholds to reflect the situation properly./.

VNA
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