Ministry receives feedback on formulation of Budget 2015

The Finance Ministry has received feedback from the public and private sectors on ways to enhance Malaysia’s quality of life and happiness index in the formulation of Budget 2015.

Deputy Finance Minister, Datuk Chua Tee Yong, said Malaysia was ranked 56th out of 156 countries in the United Nations’ World Happiness Index last year (2013) compared to 51st in 2012.

Based on the ranking, the ministry needed to find ways to improve the ranking and overcome various issues concerning the country’s quality of life and happiness index, he said.

“Malaysia’s gross domestic product (GDP) is good and has achieved around 4.8 per cent for the past seven years.

“However, it does not necessary reflects the overall quality of life and happiness index of its people, eventhough GDP reflects the wealth of a nation,” he told reporters after chairing a meeting on “Focus Group: Enhancing Quality of Life and Happiness Index”, here yesterday.

The meeting was attended by representatives from the public and private sectors.

He said among the issues discussed at the meeting were the rising cost of living, work and life balance, the increase in mental problems among young people from 15 years old based on the findings of The National and Health Morbidity Survey. — Bernama