Sunday 10 February 2008

Are all Malaysians really better off than four years ago?

PENANG:
'Malaysians are better off than four years ago’

‘Second Finance Minister Tan Sri Nor Mohamed Yakcop said the country’s per capita income had risen by 40% between 2004 and 2007, from RM15,819 (US$4,163) to RM22,345 (US$6,452).

“If we compare in terms of US dollar, the per capita income has risen by 55% during the period due to the depreciation of the dollar against the ringgit.

“The Barisan Nasional Government is confident that we will get the people’s mandate again, based on the improved economic resilience.

“However, there will be challenges and we are prepared to meet them,”’


The news report above was headlined: ‘Malaysians are better off than four years ago’.

The statistics (do you recall the saying “ Lies, damned lies and statistics”) say that the per capita income has risen, this may well be the case, but are all Malaysians really better off than four years ago?

Prices have risen, this includes the cost of utilities (water, gas and electricity), fuel, food-stuffs, transportation, however wages are on the whole stagnant and most workers receive low wages as they always have.

So from the man in the streets perspective, the answer is,

‘No, we are, without a doubt, worse off than four years ago’

So, who is actually better off?

Where has the money gone to?

Who are the beneficiaries of this 40% increase in per capita income?

The readers may have some views, but in my opinion, most the extra 40% increase has gone to a select few, some was paid out as bribes.

In reality maybe only a tiny sum trickled down to the masses, but this was not enough to counter the increases in the cost of living.

Those lies, damned lies and statistics

Genatzt!

1 comment:

Maverick SM said...

I do not know how Nor Mohamed Yakcop got that figure of $22,345; but one thing I'm sure - the standard of living of most Malaysians aren't better than 4 years ago, and we Malaysians aren't doing better financially. And inflation is definitely not 3% as claimed. 4 years ago, a bowl of curry mee in Kuala Lumpur is RM2 and now it is RM4.50. 4 years ago, cement is RM8.50 a bag of 50kg and now it is RM11.50; steel bars was about RM1,250/mton and now it is RM2,350/mton. 4 years ago, petrol is RM1.52/litre and now it is RM1.92.

I don't know how long and how much more of lies must be told.