S&P Global affirms Malaysia’s sovereign credit ratings FMTNews FMTBusiness
S&P Global Ratings has affirmed Malaysia’s foreign and local currency credit ratings due to its stable growth outlook.
“The stable outlook reflects our expectations that Malaysia’s steady growth momentum and fiscal policy will allow modest improvements in fiscal performance over the next two to three years,” it said in a statement today. S&P Global Ratings said Malaysia’s 2022 growth momentum has continued into 2023 with its first-quarter gross domestic product rising 5.6% year-on-year, underpinned by improvement in employment, recovery in tourism activity, and continued capital investments on both private and public fronts.
Hence, it forecast Malaysia’s net indebtedness to rise by 4.4% of GDP in 2023 versus a 5% increase in 2022 on moderately lower general and central government deficits, it said.
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