As for the cost of living in totality, BNM is steadfast in the view that policies to raise productivity and improve education in lifting income levels are imperative for a more sustainable approach to address the cost of living issues.
KUALA LUMPUR: Transforming Malaysia into a net food exporter may still not wean the country off the need for imports. Neither will it completely help the country in addressing the cost of living issue.
While addressing challenges in food production issues require relevant domestic policies and time, cost of living, on the other hand, will need to be tackled by raising productivity and improving education to lift income levels, as ultimately, cost of living issues go beyond just rising cost, said Bank Negara Malaysia (BNM).
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