World Bank: Around 490,000 Malaysian households still grappling with Covid-19 aftermath

The Star

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.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

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.

01:06 [AUDIO OUT]

01:09 [BLANK_AUDIO]

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