Policymakers must step up efforts to curb poverty, raise living standard – Mustapa

KUALA LUMPUR: Policymakers need to step up and implement the reforms and policies necessary to curb poverty, and improve the standard of living of those who are less fortunate.

Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed (pix) said poverty alleviation will be one of the government’s main priority areas in the upcoming 12th Malaysia Plan, which is a socio-economic development plan that charts the next five years of Malaysia’s economic development agenda.

“Curbing poverty and improving the standard of living among the lives of the downtrodden is a noble goal that all of humanity can, and should, unite around. A decent standard of living is a basic human right,” he said in his keynote address at the virtual International Forum on New Inclusive Asia 2021 today.

According to the World Bank, global extreme poverty rose in 2020 for the first time in over 20 years due to Covid-19, which has resulted in an additional 120 million living in poverty, with the number expected to rise to about 150 million by the end of 2021.

On the local front, Mustapa said, the percentage of Malaysians who live below the poverty line grew from 5.6 per cent in 2019 to 8.4 per cent in 2020, largely due to the economic effects of containing the pandemic.

“It is estimated that the number of poor households in Malaysia increased to 640,000 in 2020 compared to 405,000 in 2019,” he added.

While Malaysia has been successful in reducing absolute poverty, as evident in the percentage of Malaysians living poverty falling from 49.3 per cent in the 1970s to 5.6 per cent in 2019, Mustapa said the country has some way to go to eradicate poverty as China has.

“Besides absolute poverty, Malaysia has used multidimensional poverty indices – which looks at the quality of health, education, and the standard of living among the poor – as an important indicator measuring the quality of life among our citizens,” he said.

According to Mustapa, China stands tall in achieving the poverty alleviation goal set by the United Nations’ 2030 Agenda for Sustainable Development, 10 years ahead of schedule.

“China provides the world, especially those of us from developing countries, an example of how economic and social policies can take hundreds of millions of people out of poverty. The message is clear – if China can do it, so can we,” he said.

–Bernama