The cascading effects of the Covid-19 pandemic and Russia’s invasion of Ukraine have hit national and global economies hard, with rising inflation and looming recession. While Malaysia’s economy has returned to growth, Malaysians, particularly the poor, youth and women, are faced with longer-term socioeconomic challenges.
A recent Covid-adjusted pilot Multidimensional Poverty Index (MPI) study conducted on low-income households in Permatang Pauh found that women-led households faced a higher deprivation score compared to households headed by men during the first years of the pandemic. Further, children from low-income households not only experienced nutritional poverty but also risked becoming a ‘dropout generation’. Disruptions to education and job and income losses particularly among the youth will worsen intergenerational inequality. The aged poor are another segment of concern. The Employees Provident Fund (EPF) estimates that 73% of its members will not be able to meet its Basic Savings threshold of RM240,000 at age 55. Some 46% of contributors below 55 have less than RM10,000 in their EPF accounts.
This seminar will explore the following questions:
- What are the immediate and longer-term socioeconomic challenges for key vulnerable groups?
- Which institutions and relevant players can do more to shape their outcomes positively?
- What are the necessary policy responses, and what are the obstacles?
Last updated on 07/07/2022