KUALA LUMPUR, Feb 5 — Nearly two-thirds of Malaysian millennials and Gen Z surveyed recently agreed that their living standards have improved since the Madani administration, led by Prime Minister Datuk Seri Anwar Ibrahim, came into power two years ago.

The report, developed by Versa in collaboration with Stratsea, found that 1,764 out of 2,709 respondents polled (65.12 per cent) felt their quality of life had improved, while nearly half of them (49.21 per cent) were satisfied with the country’s overall progress since 2023.

However, more than half of the participants (52.82 per cent) rated the government’s progress in addressing the soaring cost of living as either “poor” or “very poor”.

Why the contrast?

The survey, which comprised 23 questions, found that respondents were positive about the country’s economic growth, job opportunities, healthcare services, infrastructure and transportation, as well as technological advancement.

At the same time, many respondents (57.88 per cent) living in major urban centres such as Kuala Lumpur and Johor Bahru said their current income could not keep up with their cost of living and lifestyle needs.

Despite these concerns, young Malaysians remained largely optimistic that the government can turn the situation around over the next five to 10 years.

The confidence stemmed from the fact that an overwhelming 71.69 per cent of respondents felt the Madani government is listening to the concerns of young Malaysians.

Last year, the Anwar-led government increased the minimum wage from RM1,500 to RM1,700 and introduced a subsidised RON95 petrol price of RM1.99 for all Malaysian citizens.

In December, Anwar said the government would be spending RM15 billion on the STR (Sumbangan Tunai Rahmah), Jualan Rahmah and SARA (Sumbangan Asas Rahmah) initiatives to ease cost of living pressures.

Meanwhile, the ringgit hit a seven-year high since 2018 on January 27, trading at 3.9540 against the US dollar.