The epidemic caused 600,000 families in Malaysia to change from M40 to B40!
According to the data sent by Prime Minister Datuk Seri Ismail Shabiri, the epidemic has caused 600,000 families to change from M40 middle-income group to B40 low-income group. M40 middle income is a group with monthly income ranging from RM4850 to RM10959.
The epidemic has not only turned M40 middle-income families into B40 low-income families but also 12.8% of T20 high-income families into M40 middle-income families.
According to the statistics released in August this year, the median household income of Malaysians in 2019 was RM5,873, but decreased to RM5,209 in 2020, a decrease of 11.3%. The average household income of Malaysians in 2019 was RM 7,901, while in 2020 it was RM 7,049, a decrease of 10.3%.
The median income of Kuala Lumpur households also decreased from RM10,549 in 2019 to RM9,093, while the average income decreased from RM12,840 to RM12,322. The median income of Selangor families in 2020 is RM7,300, and the average income is RM9,668. The median income of the Johor family decreased from RM6,327 to RM5,690.
