KUALA LUMPUR: The fastest growth in income recorded by the B40 group proves the government’s policy to raise their standard of living is working, Minister in the Prime Minister’s Department Abdul Rahman Dahlan said.
He said the B40 (bottom 40% household income group) recorded the fastest growth in income compared with the M40 (medium 40% household income group) and T20 (top 20% household income group).
The B40 group is made up of households earning a monthly income of RM3,900 and below.
Speaking on the sidelines of the Global Transformation Forum 2017 here today. Rahman said since Najib Razak took over as prime minister in 2009, every plan Najib had implemented was always mindful of the welfare of the B40 group.
He said all ministries were involved directly or indirectly in the B40 economic development agenda.
Rahman said for the 2009-2014 period, the income growth of the B40 group grew almost 13%.
“At the moment, 16.5% of the gross domestic income is contributed by this B40 group. We want to increase this rate to 20% in 2020.”
Rahman said the country remained committed to achieving its target of becoming a high-income nation by 2020.
On whether Malaysia could achieve high-income status by 2020, Rahman said it was quite difficult to reach the US$15,000 per capita income due to the current economic situation and weakening ringgit.