KUALA LUMPUR, Oct 3 – Malaysia’s strong economic fundamentals are among the factors supporting the ringgit’s growth, even during times of currency weakness, said Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour.
He highlighted that the country’s projected economic growth rate of 4.0-5.0 per cent for this year is also a positive factor that will contribute to the strengthening of the ringgit, moving forward.
“In terms of our economic growth, the financial sector, and so on, we are indeed strong. Currently, these fundamentals remain solid and will only get stronger.
“The economic outlook is positive. These two factors are driving the appreciation of the ringgit,” he said during Astro Awani’s “Fiscal and Monetary Strategies: Key to Strengthening Malaysia’s Economy” programme, on Thursday.
The programme also featured Finance Minister II, Datuk Seri Amir Hamzah Azizan.
Abdul Rasheed added that, aside from macroeconomic factors, the structural reforms being implemented by the MADANI government also play a critical role in bolstering the ringgit’s strength.
“This is where I have to congratulate the government for undertaking this painful policy reform which is important for the nation as it will strengthen us in the future.
“Investors see our commitment to these structural changes, and it has contributed to the ringgit’s appreciation. It will continue to drive further support for the currency in the future,” he said.
