- Published on Friday, 21 April 2017 13:48
In an audio clip shared on his blogpost today, Prime Minister Datuk Seri Najib Tun Razak revealed that Malaysia has the lowest cost of living in Southeast Asia.
In his following speech, Najib went on to outline how the government had made it a priority to tackle the issue of living costs while at the same time setting sights on making the country a high-income nation.
“The government believes these efforts have to an extent borne fruit when Malaysia was assessed as the city with the lowest cost of living among the Asean countries according to a 2017 global survey on living costs by the Economist Intelligence Unit,” he said in a speech posted on najibrazak.com today.
Najib was referring to the EIU's Worldwide Cost of Living 2017 report published last month and he pointed out that Malaysia's capital city Kuala Lumpur was ranked 96th out of 133 cities globally in the report but we are not resting on our laurels.
“There is still more that we are and will be doing to increase income and reduce the cost of goods.
"The government has continued its efforts to reduce living cost by introducing various measures including Bumiputera-specific programmes under Teraju, MARA, SUPERB, Facilitation Fund, Tekun; as well as cost-control measures for all Malaysians under subsidised grocery chain Kedai Rakyat 1Malaysia, Klinik 1Malaysia clinics, 1Malaysia book vouchers and affordable housing programme 1Malaysia People's Housing Programme (PR1MA).
In figures released last month, Bank Negara Malaysia (BNM) expects headline inflation to be 3 to 4 percent in 2017, against 2.1 percent last year, EconoTimes reports.
“I really hope these programmes will lift up the people's standard of living because this is what I work towards each day as prime minister,” he concluded.