Absolute poverty is when a household’s income is unable to meet expectations for basic human needs such as food, shelter, education and healthcare.
KUALA LUMPUR: There is a critical and urgent need to transform the Malaysian economy through the creation of more high-paying jobs in higher value-added activities, in order to elevate the collective welfare and income of households, said Khazanah Research Institute (KRI).
KRI State of Households 2020 report revealed that while absolute poverty has declined, many households remained precariously vulnerable.
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