March 25, 2016
KUALA LUMPUR: The UCSI Poll Research Centre (UCSI- PRC) recently conducted a press conference to announce the results of a survey titled, ‘The Economic Hardship in 2015 following the Implementation of GST and Weakening of the Ringgit’. It was chaired by Assoc Prof Dr Ngerng Miang Hong, CEO of the UCSI- PRC.
“The average Malaysian’s experience with the GST can be discovered through a survey like this,” he said.
The survey aimed to analyse the potential economic hardship experienced at the grass-root level that may be too marginal to be detected by published statistics such as the Consumer Price Index or Gross Domestic Product estimates.
The survey covered several areas about the GST implementation that took place on 1 April 2015. These include the increase in participants’ expenses, the factors causing the said increase in expenses and their experience regarding the change in income. Participants were also encouraged to share their views on the current state of the Malaysian economy and the expected impact of the fall of petrol prices.
The results of the survey indicate that on average, the respondents are experiencing an 11% increase in expenses. The highest increase is attributed to the rise of food and clothing expenses by as much as 6‐10% while a 6% increase in transportation is likely linked to the rise in toll fees and in public transportation.
When questioned, most of the respondents attributed the rise in expenses to the imposition of GST and the weakening ringgit. They also attested to having their income reduced or stagnated, and a majority believed that the nation’s economy is worsening. Most respondents agree that the prices of goods should be reduced when the price of petrol is lowered.
A more detailed breakdown of the poll results can be found on the UCSI-PRC website.
About UCSI Poll Research Centre The UCSI Poll Research Centre (UCSI-PRC) is a public opinion research company owned by the UCSI Group. Its main objective is to utilise original and scientific research methodologies to investigate and analyse public opinions and attitudes.