Stronger ringgit ahead: Malaysia’s economic growth and fiscal tightening on track, says Amir Hamzah

Malaysia is charting a path towards robust economic growth, a smaller fiscal deficit, and stable prices, bolstering its currency and investment appeal, Finance Minister II Datuk...

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He noted that reduced interest rate differentials with the US should also support the currency’s growth. “Just because everybody has cut, doesn’t mean we have to cut,” Amir was quoted as saying, praising Bank Negara Malaysia’s efforts to manage inflation while maintaining “very accommodative” conditions.

His vision involves transforming Malaysia into a global tech hub, a strategy that’s drawing interest from industry giants like Microsoft, Nvidia, and Amazon. Inflation, anticipated to average 1.5 per cent to 2.5 per cent in 2024, is expected to remain between 2 per cent and 3.5 per cent next year.

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