KUALA LUMPUR, Nov 6 (Bernama) — Prime Minister Datuk Seri Anwar Ibrahim has expressed confidence that the country's economic growth prospects will not be significantly affected by developments in the ringgit. Anwar highlighted that the performance of the ringgit, along with other regional currencies, is predominantly influenced by external factors, particularly expectations of sustained high US interest rates and geopolitical considerations.
In a statement following the National Economic Action Council (MTEN) meeting, Anwar emphasized the government's commitment to structural reforms. Initiatives such as the New Industrial Master Plan 2030 and the Energy Transition Roadmap are expected to enhance Malaysia's competitiveness, making it more appealing to foreign investors. Anwar believes that these efforts will contribute to the sustainable strengthening of the ringgit's value.
He further stated that Bank Negara Malaysia is dedicated to preventing excessive volatility, ensuring stability in the ringgit exchange market. The government's proactive measures, coupled with strategic reforms, aim to fortify Malaysia's economic foundation amid global economic dynamics.
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