MIER: Malaysia's living cost, affordable housing crucial

SUBANG JAYA (Sept 27): Malaysia's Budget 2017 needs to outline long-term improvements in living cost and affordable housing to yield more positive changes.

Malaysian Institute of Economic Research (MIER) executive director Dr Zakariah Abdul Rashid said although both issues were highlighted in previous budgets, the country has yet to see an effective solution to bring out more positive changes.

"These are things that the Government should look into thoroughly for the long-term benefit of Malaysians. It should not be a one-off case, but should be reviewed constantly until it is solved once and for all," Zakariah told reporters after MIER's 30th anniversary dinner here, yesterday evening.

Zakariah said the Government should consider working backward to address the need for better living standards.

"The problem should not be dealt piecemeal, but by going back to the root cause. We think that to improve cost of living, we should look at ways to improve people's productivity and income first," said Zakariah.

Prime Minister Datuk Seri Najib Razak will announce the budget in Parliament this Oct 21. — theedgemarkets.com

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This article first appeared in The Edge Financial Daily, on Sept 27, 2016. Subscribe to The Edge Financial Daily here.