Spending more money is not likely to improve basic education in Malaysia, said the World Bank's chief economist for the East Asia and Pacific region Sudhir Shetty.

"It's not about spending more money. Malaysia actually spends quite a lot of money on basic education.

"If you look at it relative to per capita, Malaysia is actually on the high side," he said in a presentation on economic challenges and opportunities for Malaysia in Kuala Lumpur today.