The prime minister said that even though Putrajaya was currently settling debts incurred by the previous administration, it had managed to improve the country’s economic performance.
Malaysia, he said, was aiming to achieve 4.8% growth next year, from the 4.7% growth registered this year.
“This shows that the nation is being governed well, even though many felt we were inexperienced. Based on the budget tabled, everyone receives an allocation,” he told reporters.
This, he said, included increased allocations for Sabah and Sarawak.
“This shows our financial standing is strong.”
Earlier today, Finance Minister Lim Guan Eng tabled the 2020 Budget which saw an allocation of RM292.02 billion, about 5.6% lower than last year.
Mahathir said he felt that the finance minister had prepared a budget that reflected the strength of the current administration.
When asked on the Targeted Subsidy Programme (PSP) fuel mechanism, Mahathir said those who own “big” cars will be separated from those who own “smaller cars”.
“We find that if we subsidise the petrol which they purchase, that will mean that the very big cars and the people with many cars will benefit from it.”
It was earlier announced that those who will be eligible for the subsidy will be those who own a car with 1,600cc engine capacity and below, and those owning cars above 1,600cc which are more than a decade old.
Motorcyclists who own bikes with an engine capacity of 150cc and below also qualify for the subsidy. Those who own motorcycles above 150cc that are older than seven years also qualify.
Owners of luxury vehicles will not be eligible.
Meanwhile, Mahathir seemingly downplayed a report by Reuters that India was mulling restricting imports of some Malaysian products, including palm oil, after he slammed New Delhi for its actions in Kashmir.
“That is reported, but we have not received anything official.”
Mahathir also said that the government will not be compensating PLUS Malaysia Bhd after it was revealed that the concessionaire will offer a minimum 18% discount in toll charges across all its highways.