PUTRAJAYA, Oct 8 — Malaysia has nearly eradicated hardcore poverty, with the rate now standing at just 0.09 per cent, while the average monthly household income rose to RM9,155 in 2024, according to the Household Income and Expenditure Survey (HIES) launched by the Department of Statistics Malaysia (DOSM) today.

Economy Minister Datuk Seri Amir Hamzah Azizan said the findings reflected the effectiveness of government initiatives in uplifting communities and improving living standards nationwide.

“Malaysia has reached a key milestone where hardcore poverty is almost eradicated. 

“At the same time, average household income increased from RM7,901 in 2019 to RM9,155 in 2024, a 3.8 per cent growth compared to 2022,” he said when officiating the report at the Putrajaya International Convention Centre here, today.

The report also showed that absolute poverty declined to 5.1 per cent in 2024, down from 6.2 per cent in 2022, while income inequality narrowed as the Gini coefficient fell to 0.390 from 0.404 two years ago.

Amir Hamzah stressed that poverty eradication efforts must go beyond temporary aid.

“The approach must focus on strengthening social mobility, empowering people to face rising living costs, and improving overall quality of life,” he said.

Under the 13th Malaysia Plan (RMK13), the government has pledged to intensify efforts to eliminate poverty across all communities and regions while ensuring inclusive growth.

Malaysia’s economy remains on a stable footing, expanding by 5.1 per cent in 2024, with unemployment down to 3.2 per cent and inflation contained at 1.8 per cent.

Trade also reached RM2.9 trillion, reflecting the country’s resilience and competitiveness.

The minister added that up-to-date data from the government’s central database, PADU, will help refine policies and target assistance to groups most in need.

“The government remains committed to widening opportunities and sustaining growth so that no Malaysian is left behind,” he said.

 Malay Mail – Malaysia