Referring to recent reports by the World Bank and the International Monetary Fund (IMF), Lim said Najib was acting in a “highly irresponsible manner”.

He said the IMF report had made “veiled statements” about the need for higher revenues, thereby alerting people that taxes would have to be raised.

It had also mentioned the need to implement the adjustment programmes outlined in the 11th Five-Year Plan, which meant that reform policies were not being carried out, he said.

“The statement contained cautionary remarks that urged the government to pay heed to the downside risks it faces, for which it is ill-prepared.

“The statement is thus a rap on the government’s knuckles.”

However, Lim said Najib had limited himself to boasting about the revised growth rate, ignoring the “nuanced rebuke” about the failure to implement reform measures and the “not-too-cryptic point” about the need to tighten fiscal policy and take up structural reforms.

The report by the World Bank, meanwhile, presented revised macro-economic growth estimates and forecast reflecting revisions to global numbers that took into account changes in the global economy, he said.

“The higher estimates for Malaysia are thus in tandem with international developments and have little to do with either better policies or improved economic fundamentals.

“However, the prime minister has been quick in making claims implying that the somewhat higher GDP growth is wholly attributable to the efforts of his administration,” he said in a statement.

Based on data from the Statistics Department, he said, the World Bank had also reported a “disproportionate impact” on lower-income households in Malaysia from the rising cost of living.

“The poorest households have been disproportionately affected by the build-up of inflationary pressures over the past years with higher relative increases in food prices.

“The report points out that the higher inflation experienced by low-income households has been further compounded by the persistent deterioration in the affordability of housing since 2012, as a result of a undersupply of affordable homes, particularly acute in the highly-urbanised areas of the country.

“The report points to the need for better targeted social assistance, a point also made in the IMF’s note.

“These mildly stated criticisms and policy failures have not been taken up by the prime minister, who has been quick to mouth feel-good remarks often taken out of context,” he said, adding that the mainstream media had also failed in its duty to report faithfully and fully.

He was referring to an article by The Star, titled “World Bank: Malaysia to achieve high-income nation status as early as 2020”.

In it, he said, the daily had made no attempt to convey any cautionary statements about the World Bank’s presentation which was a simulation and hypothetical in nature.

“There are many caveats, and no one should under-rate that all forecasts for GDP growth in the near term are precarious.

“Much will depend on how the US, Chinese and EU economies perform.”

The Gelang Patah MP also slammed any notion that Malaysia would achieve high-income status by 2020.

“Note the chart which shows a static cut-off at US$12,236.

“This figure changes annually in accordance with the Atlas methodology. This figure never gets projected because of the nature of how the number gets calculated. The bottom line is: the bar is not static.”

In this regard, he said, the World Bank had acted “less than responsibly” and appeared to be “dancing to the piper’s tune”.

“The likelihood of Malaysia crossing over to join the ranks of the high-income group of countries by 2020 is remote.

“It is all the more unlikely given the inability of this scandal-driven government to make the hard but necessary policy corrections recommended by both the Fund and the Bank.

“These concerns should be noted by the electorate as it makes its choices in the 14th general election, due in the near term,” he said.