It says access to good jobs and secure employment are also fundamental to alleviate poverty and reduce income inequality.
Redirecting fuel subsidy spending into expanded and refocused social assistance can extend impact of poverty reduction efforts and even generate savings for the country, says the World Bank.
“In parallel, access to good jobs and secure employment are fundamental to alleviate poverty and reduce income inequality,” it said at the launch of the September 2023 World Bank Malaysia Economic Monitor today. Furthermore, a portion of the additional revenue or savings could be allocated to augment the social assistance budget, leading to a further reduction in poverty and inequality while making fiscal gains.
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