Dr M: It’s a miracle M’sia did not tank due to 1MDB

Dr M: It’s a miracle M’sia did not tank due to 1MDB

KUALA LUMPUR: It was a near miracle that Malaysia was not bankrupted due to the damage done by the previous kleptocratic regime as they turned the nation’s coffers into their personal kitty, claimed Prime Minister Tun Dr Mahathir Mohamad said today.

He said the damage was not just financial but institutional as well.

“One of the biggest challenges after successfully toppling the kleptocratic regime was mopping up the mess left behind and rebuilding the nation,” he said, in his keynote address at the ISIS Malaysia Praxis Conference “Malaysia Beyond 2020”.

Mahathir said it would take a lot of effort, time and money, adding that “what we found after we took over was far worse than what we believed was the damaged caused.”

“While 1MDB is without doubt a monstrosity, we will never be able to fully fathom the damage it caused the nation,” he said.

Beyond the corruption and the financial shenanigans, the prime minister said, the whole machinery of government was subverted and weakened.

He said a considerable amount of government revenue now have to go to pay debts, leaving inadequate funds for operation and development.

“It is a near miracle that this country was not bankrupted,” he said, adding that for the country to recover and to grow, the machinery of government must be restored and made efficient.

Bernama


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