NSTbusiness Tengku Zafrul said the government would continue to focus on governance and structural reforms to place the country on a firmer footing.
Fitch also had projected the local economy to grow 5.8 per cent in 2021, according to the Ministry of Finance .
“These factors and ongoing efforts to further strengthen Malaysia’s policy frameworks will continue to serve the Malaysian economy well during this challenging phase,” Tengku Zafrul said in a statement. Tengku Zafrul said the government would continue to focus on governance and structural reforms to place the country on a firmer footing.
“Malaysia’s foreign currency external assets continue to exceed its foreign currency external liabilities,” he added. He said the flexible exchange rate would continue to serve as important buffers against potential external shocks. He said the decline in foreign holdings of government bonds from a peak of 34 per cent in 2016 to around 21.5 per cent currently has also mitigated the impact on borrowing costs.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fitch affirms A- rating for Malaysia, 5.8 percent growth in 2021CORONAVIRUS | M'sia has responded to the Covid-19 pandemic and global economic shock in a timely and decisive manner, says the finance minister.
Read more »
Fitch affirms Malaysia’s ‘A-’ credit rating but changes outlook to negativeThe rating agency also predicts the nation’s economy to record a 5.8% growth in 2021. FMTNews FitchRatings
Read more »
Fitch affirms A- rating for Malaysia, 5.8 percent growth in 2021CORONAVIRUS | M'sia has responded to the Covid-19 pandemic and global economic shock in a timely and decisive manner, says the finance minister.
Read more »
Fitch affirms Malaysia’s ‘A-’ credit rating but changes outlook to negativeThe rating agency also predicts the nation’s economy to record a 5.8% growth in 2021. FMTNews FitchRatings
Read more »
Malaysia's Covid-19 mortality rate lower than many countriesPUTRAJAYA: Malaysia’s mortality rate for Covid-19, which stands at 1.58 per cent, is much lower than some countries which have reported rates of 4.6 per cent or 5.6 per cent.
Read more »
Covid-19 spending could break national debt ceiling, says MP | The Malaysian InsightLike some other countries, Malaysia will spend 10% of its GDP to mitigate the effects of the coronavirus outbreak.
Read more »