Malaysia loses about $58B to corruption in five years

He said that the losses were calculated based on the cumulative estimate of the Gross Domestic Product (GDP) over the five-year period from 2018 to last year.

Speaking at the launch of the National Anti-Corruption Strategy (NACS) 2024-2028 at the Putrajaya International Convention Center (PICC) on May 8, Azam emphasized that addressing corruption in an increasingly complex borderless world is certainly different from the anti-corruption approach of decades ago. The level of loss Malaysia has suffered is also much different from the past few years.

Expressing his disappointment over the huge losses due to corruption in the federal government, Azam said that the substantial amount could have been utilized to help the public in various ways, particularly in executing social projects such as hospital and school repairs. Regrettably, these funds have been depleted due to corrupt practices.

He noted that the MYR277 billion amount is almost equal to the GDP of the two states of Johor and Penang combined.

Malaysia's NACS outlines a crucial strategy that focuses on enhancing integrity, transparency and accountability across various sectors in Malaysia, including politics, public administration, government procurement, law enforcement, legal and judicial institutions, the private sector and the general public.