Malaysia’s economic fundamentals still strong
Published on: Thursday, July 29, 2021
By: Bernama
Kuala Lumpur: Malaysia’s economic fundamentals are still strong and its growth prospect for the medium term is still bright, supported by a stable capital market, while the financial sector has ample liquidity and capital buffer, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz (pic).He said among the issues raised by the Members of Parliament during the Special Parliament Meeting were whether the investors’ confidence was affected following the Covid-19 pandemic in the country.
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“A brief answer, no. Foreign investor confidence (is) still intact on Malaysia’s economic recovery prospects.
“Last month, international rating agencies such as Standard & Poor’s and Moody’s Investors Service gave ratings of A- and A3 respectively to Malaysia,” he said in the 63rd Implementation and Coordination Unit Between National Agencies (Laksana) report. Last week, Fitch Ratings also maintained Malaysia’s rating at BBB+.
“Such ratings are not given simply, especially not for a country that is considered a ‘failed’ state.Stay up-to-date by following Daily Express’s Telegram channel.
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“For instance, the government transition was done peacefully and orderly in 2018, while despite the political polemics in 2020, Budget 2021 was approved by the Parliament,” he said.
