Day 23 of Malaysia’s quarantine period and it has been discovered that richer citizens are spending lesser money (in percentage) than the middle-income and lower-income citizens.
It is with no doubt that generally expenditure has decreased. In fact, according to the Department of Statistics (DOS), Malaysia’s average household spending has decreased from RM6,317 a month to RM2,813 a month since the MCO began.
The figures see a 55% drop which consists more so of the ‘upper-class’ as compared to the ‘middle’ and ‘lower’ income people. Based on research, the spending of higher-income citizens dropped by 60%, as compared to 48% (middle-income) and 41% (lower-income).
I know what you’re thinking… “Surely the T20 who can spend more is able to reduce their spending also during MCO”. Are you’re right!
Malaysians are cutting back on their everyday spending and expenses, and also other financial priorities like paying off taxes, loans and giving allowance to families. Numbers wise, they have been spending 71% less on recreational and entertainment activities, 65% less on alcohol and cigarettes, 89% less on transportation and 59% on clothing.
Naturally, the data also shows that citizens have been spending 27% more on food (RM700 a month to more than RM900) and 50% more on personal care items (soap, sanitisers, etc).
DOS also expects a rise in spending on utilities like gas, water and electricity by 50% throughout the MCO.
Interesting. What do you think? Let us know in the comments!
Local Activist Released After Arrested Without Warrant In Connection With The #Lawan Movement
20-year-old activist, Sarah Irdina, was arrested under Section 4(1) Sedition Act and the Communication and Multimedia Deed, following a tweet...
Report: Unemployed Fresh Graduates In Malaysia Increased By 22.5% In 2020
The Covid-19 outbreak has turned almost every aspect of our lives, country and economy into pandemonium. The implementation of various...
LRT 3 Construction Iron Scaffolding Collapses In Klang, Kills A Worker & Injures Four Others
A Bangladeshi construction worker was killed after the scaffolding at the Bandar Bukit Tinggi, Klang, Light Rail Transit 3 (LRT...
China’s Chen Long Defeats Lee Zii Jia In Nail-Biting Match To Advance To Quarter-finals
We’re still proud of you no matter what, Zii Jia! Malaysian badminton player, Lee Zii Jia faces defeat after losing...
LIVE NOW: Lee Zii Jia vs. Chen Long Tokyo 2020 Olympics
Lee Zii Jia is playing against defending champion Chen Long in the Tokyo 2020 Olympics round of 16 to secure...
Parliament Postponed To 2 August Due To Covid-19 Cases, Ministers Undergo Swab Tests
Following the first parliament sitting of 2021 on Monday (26 July), just four days in and the sessions are once...
JUST IN: Zahid & UMNO Call For Muhyiddin To Resign, Anwar Submits Motion Of No-Confidence
The United Malays National Organisation (UMNO) has expressed their disappointment with Prime Minister Tan Sri Muhyiddin Yassin’s government after they...
Lee Zii Jia Will Face Chen Long For The 5th Time To Secure Spot In Olympics Quarter Finals!
<Pops blood pressure pills in preparation.> After breezing through his match with Frenchman Brice Leverdez, winning under 35 minutes with...
Social Stories8 hours ago
M’sians Are Begging Zii Jia To Reactivate His Twitter Account After Digging Up Old Tweets
Social Stories9 hours ago
“We meant no disrespect” Team Israel Athlete Apologises For Viral Video Of Jumping On Cardboard Bed
Social Stories3 hours ago
Reporter Couldn’t Hold Back Tears When National High Jumper Apologised To Malaysians
Social Stories5 hours ago
28yo Woman Goes Viral After Driver’s License Reveals Her Name As ‘Badjie Xatieqoutieqc Ibadallah’