Most Malaysians not enjoying country's economic growth: Mahathir

KUALA LUMPUR: Despite the country's positive economic growth over the past few years, only a portion of its benefits were enjoyed by working class Malaysians, according to Tun Dr Mahathir Mohamad (pix).
The Prime Minister said it was business owners who benefitted the most from Malaysia's growth, enjoying about two-thirds of the country's gross domestic product (GDP).
"Our growth, in general, are being accepted as among the best in the region. However, what is more, important is the GDP in the aspect of income, meaning who receive the benefits.
"Over the past decade, most of the country's growth benefits were only enjoyed by equity holders and only a small portion, or one-third of our GDP, are being enjoyed by the workers," he said when tabling the government's mid-term review of the 11th Malaysia Plan in the Dewan Rakyat, here, today.
Mahathir said in addition, there was also a clear income gap between skilled workers, who are earning very good pay, compared to those less-skilled workers, who earn a fraction of it.
"As such, our economic growth is not really felt by most of our people," he said.
Mahathir also said Malaysia would have fared worse, in terms of its figures in the economic performance front between 2016 and 2017, had they taken into account "off budget allocations".
"If government debts, spending, and the missing billions were taken into account, then our financial position would not have been as good as the figures that were given to us," he said.
Earlier in his speech, Mahathir had said in the first two years of the 11th Malaysian Plan, the country's GDP recorded a growth of 5.1% annually.
He added that Malaysia's gross income also increased at a rate of 6.7% from RM36,119 in 2015 to RM41,093 in 2017.