The government's recent rate hikes and slashing of subsidies may be unpopular, but are good for the economy and hence "good for the people", said the government.

“To keep Malaysia’s economy strong, we need to keep our public spending in check. That means raising some rates and cutting some subsidies. 

"Some measures may not be popular now but over the medium term what is good for the economy is also good for the people," said a government spokesperson in a statement. 

The statement was issued by the prime minister's press secretary Tengku Sariffuddin Tengku Ahmad today.

It said while in the short term they will be "unpopular with some" the government justified it as "absolutely necessary to maintain investor confidence in Malaysia".

Additionally, these unpopular measures will help continue Malaysia's "strong growth in jobs and income over the last four years".

Prime Minister Najib Razak's second term in office has seen hike after hike since petrol prices were raised twice this year, and subsequently the sugar subsidy was abolished and a 6 percent GST announced in his Budget 2014.

That has since opened a floodgate to various rate hikes starting 2014, from the astronomical assessment rates for Kuala Lumpur property owners up to 200 percent, a hike inelectricity tariffs and this week, an announced hike in highway tolls.

Plans to hike public transport rates are also on the table for mid next year, prompting the opposition to name it 'Price Hike Year 2014'.

The government spokesperson said as a short term measure to provide "extra help to those who need it most", the spokesperson cited the BR1M and 1Malaysia initiatives.

“In the short term, the government is providing extra help to those who need it most. From Monday, some 7.9 million recipients in households earning under RM4,000 per month can apply for new BR1M payments. 

"We are opening new 1Malaysia shops, to help with the cost of daily goods, and new 1Malaysia Kliniks to provide affordable healthcare.”

'52 percent back hikes'

Meanwhile commenting on the latest slide in Najib's approval rating in a Merdeka Centre poll for December released yesterday, the spokesperson said the results nevertheless imply that the hikes receive popular backing.

"International institutions, investors and agencies have backed this responsible approach, and 52 percent of respondents to the recent poll approve of the prime minister’s performance.

"Unlike the opposition, who promise everything to everyone, the government is taking the tough decisions needed to protect Malaysia’s economy. 

According to survey, Najib's approval rating this month is the lowest since September 2009 (59 percent) and is close to the 45 percent he chalked in May 2009, a month after taking over as prime minister.

His ratings over his tenure has been plagued by long downtrends after breaking the 70 percent mark twice, in 2010 and 2011, while the dissatisfaction level has seen consistent growth from the initial 16 percent to 40 percent.