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SHAH ALAM: The trend of an ageing population combined with an increasing urbanisation rate may see the country looking at higher tax rates to fund an increasing demand for health, social welfare and pension systems in the coming years, according to economists.
Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid pointed out that an ageing population has implications in terms of how resources would be used as well as a negative effect on productive capacity.
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