“How much your salary ah ?” That’s a sensitive question, right? No one actually reveals how much they earn for two reasons, you don’t want people to be jealous of you, or you don’t want people to feel sorry for you. The cost of living in Malaysia is getting higher, no one can deny that. But, based on this recent estimate, things will seem to take turn for the better, but that’s only if you look at one side of it.
Good news for Malaysians, salaries are expected to increase by a whole FIVE PERCENT in 2020. Happy? PSYCH! While salaries are expected to increase, at the same time, real-wage growth is expected to drop marginally to 3.5 percent from 3.6 percent last year.
Did that sound too adult for you? Don’t worry, I got you. So, real wage growth is the increase in wages relative to the other prices in the economy. The 3.5 percent drop is actually to adjust ofr the inflation rate of 1.5 percent. Which basically means, your salary is going be worth lesser than it was last year lah!
“There has been a lot of discussion that the inflation rate does not reflect the rising cost of living in Malaysia and the government is working on developing a new index that can provide better accuracy on the cost of living.”
But at least we’re not doing the worst in the region, right? Nope, wrong again.
Indonesia will have the highest real-wage growth at 5.1 percent as their inflation rate is at 3.0 percent! That’s double from Malaysia! Bad news for Singaporean haters tho. The small nation will only have a salary increase of four percent but their inflation rate is only at 0.6 percent, the lowest in the region.
So, that means I’m just gonna get more broke? Cool! There’s nothing to be said now as that is the state of the economy currently. Being broke has been the biggest inconvenience in my life.
Also read: RM10.5K Salary, 21 Days Annual Leave & Signing Up Bonuses Offered To New SG Bus Drivers!
