Malaysians spend 70% of income on daily needs
Malaysians on average spent 70% of their income on food, housing, necessities and travel, according to the Malaysian Minister of Finance Johari Abdul Ghani.
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Speaking at the 2017 Budget Focus Group Meeting on the cost of living, Johari said Malaysians’ needs now include cars, mobile phones, computers and internet and that families who have monthly income of about US$940 and families who have monthly income of US$940 to US$2,030, face more difficulties.
He said the Malaysian government has recently helped low-income groups with the BR1M programme, which provides assistance in education, housing and necessities. They also benefit from lower income tax.
The BR1M programme, which was introduced in 2012, supports families with an income of less than 3,000 ringgits each month with 500 ringgit per person.
