KUALA LUMPUR (March 6): Second Finance Minister Datuk Seri Johari Abdul Ghani has rejected a lawmaker's argument that the slowdown in the retail market is an indication that the economy is not doing well.

Johari instead said the expenditure of Malaysians overseas showed that the economy is strong.

"Spending by Malaysians who go abroad has grown from RM41 billion in 2015 to RM46 billion in 2016 and 2017. That shows that the people's spending power is stronger," he said in the Dewan Rakyat today during the question and answer session.

Johari was responding to Khalid Samad (Amanah-Shah Alam) who said that despite various economic indicators showing positive growth, Malaysians are finding it hard to cope with the rising cost of living.

"We are also seeing hypermarkets closing down," said Khalid. "These are facts, not mere perception."

Insisting that "it's difficult to explain to people who don't understand the economy", Johari said when hypermarkets close down, it could be due to many factors.

"It could be due to weak management, what do you want the government to do about that?

"When people said the retail market is bad, that is because the number of retail outlets has been increasing despite the economic slowdown. In 2016 to 2017, retail outlets increased from 66,000 to 73,000, that is the reason," he said.

Johari also said the statistics department had reported that from 2015 to 2017, 1.1 million jobs were added to the economy.

Khalid then interrupted and said the fact that the government has taken various measures to help the people facing economic problems is an indirect admission that the economy is not doing well.

"If the economy is good, why are we wasting time on things like BR1M (1Malaysia People's Aid scheme) and subsidies? The government itself is admitting that the economy is not doing well, and this is more than just perception," he said.

Johari, however, disagree that providing financial aid is equivalent to a weak economy.

"In the US, where the economy is worth some US$18 trillion, a very big country, they are providing financial aid to their people. It is the same in Singapore. So it is very normal for Malaysia to help our people, not to mention that our GDP is only US$320 billion," he said.