PUTRAJAYA: Malaysia has reached a significant milestone with its hardcore poverty rate recorded at 0.09% according to the 2024 Household Income and Expenditure Survey.
This represents a notable improvement from the 0.2% rate recorded in 2022 and demonstrates substantial progress in poverty eradication efforts.
Economy Minister Datuk Seri Amir Hamzah Azizan stated this achievement reflects the effectiveness of various government initiatives aimed at boosting household incomes and enhancing public well-being.
The international standard for hardcore poverty eradication considers the target achieved when the rate falls within three percent or below.
Minister Amir Hamzah highlighted improvements in living standards with average monthly household income increasing from RM7,901 in 2019 to RM8,479 in 2022 and further to RM9,155 in 2024.
This represents a 3.8% increase compared to 2022 figures and indicates positive economic progress for Malaysian households.
The Gini coefficient measuring income inequality has also shown improvement narrowing from 0.404 in 2022 to 0.39 in 2024 according to the survey results.
These indicators collectively point toward positive developments in the nation’s socioeconomic landscape as presented during the HIES 2024 Report launch.
The incidence of absolute poverty also declined significantly to 5.1% in 2024 from 6.2% in 2022 based on the comprehensive survey findings.
Amir Hamzah explained that HIES serves as a crucial statistical instrument for measuring household socioeconomic progress and improvement across the country.
The survey provides essential data for formulating national economic and social policies including poverty eradication programmes and income enhancement strategies.
Government officials rely on these findings to address cost of living challenges and reduce income inequality through targeted interventions.
The survey enables the government to provide detailed statistics on income levels household expenditure patterns and poverty status across different household classifications.
The effectiveness of government poverty eradication programmes is evident in the dramatic reduction from 49.3% in 1970 to the current levels.
Minister Amir Hamzah reaffirmed the government’s commitment to eradicating poverty in all its forms regardless of race religion or geographical region. The approach focuses on enhancing social mobility rather than providing temporary assistance to vulnerable communities.
Social mobility will be strengthened through comprehensive efforts to empower people in managing living costs and building a social system based on MADANI principles.
The government aims to improve overall quality of life through sustainable poverty eradication strategies that address root causes.
Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin revealed that three federal territories and three states recorded median household incomes above the national level during the presentation. Kuala Lumpur led with RM10,802 followed by Putrajaya at RM10,769 and Selangor at RM10,726 among the highest earning regions.
Johor recorded RM7,712 while Penang reached RM7,386 and Labuan achieved RM7,383 in median household income according to the detailed survey findings.
Penang demonstrated the highest annual growth rate at 6.4% while Perak registered the lowest at 2.1% among the states surveyed.
Income distribution trends showed gradual positive progress with households in the B40 group comprising 3.28 million households earning up to RM5,859 monthly.
The M40 income group ranges between RM5,860 and RM12,679 while 1.64 million households in the T20 group earn RM12,680 and above according to the latest classification data. – Bernama