KUALA LUMPUR: Malaysia will not face a balance of payments (BOP) crisis as the country has been consistently registering current account surpluses, sa...
: Malaysia will not face a balance of payments crisis as the country has been consistently registering current account surpluses, says Bank Negara Malaysia Deputy Governor Datuk Marzunisham OmarHe said the central bank also expects the country to record another round of current account balance surplus this year, thanks to earnings from tourism and higher returns from exports versus imports.
In addition to the export recovery forecast by the central bank, he said the tourism sector is a big foreign exchange earner for the country. “With the visa liberalisation for Chinese tourists and the ringgit being the way it is, Malaysia continues to be very attractive,“ he added. In its Economic and Monetary Review 2023 Report which was released today, BNM said the current account of BOP is expected to register a higher surplus of between 1.8 per cent and 2.8 per cent of the gross domestic product this year.
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