Malaysia ranked 15th for govt spending efficiency

By D KANYAKUMARI

MALAYSIA has been ranked 15th out of 137 countries for its efficiency of government spending, according to the World Economic Forum (WEF) Global Competitiveness Report 2017-2018.

Scoring 4.8 out of seven points in total, the Malaysian government spending also ranked the second most efficient out of the nine Asean countries in the WEF list.

According to WEF, Malaysia did better than countries like Finland (16), Norway (18), China (19), Indonesia (25) and even Japan (29).

For the Asean region, Brunei Darussalam ranked 23rdwhile Laos, Thailand, Vietnam, the Philippines and Cambodia ranked 30, 51, 69, 88 and 89 respectively.

Overall, Malaysia fared well in terms of global competitiveness, moving up to 23rd from its 25th position last year.

It was also ranked third internationally for Strength in Investor protection, and fifth for burden of government regulations, overtaking countries like Qatar (7), China (18) and Iceland (22).

However, despite its high ranking for efficiency in government spending, Malaysia appeared to have fallen behind for government budget balance, ranking 71st and was also ranked 81st for government debt with a percentage of 56.3%.

As for corruption and ethics, Malaysia is placed at 34, falling far behind Singapore which was ranked first and countries such Japan (19), the US (23), Bhutan (27) and Israel (33).

In the component of public trust in politicians, Malaysia scored 4.4 points out of 7, ranking it 29th, overtaking countries like Brunei (31), India (33), Estonia (38) and Ethiopia (41).