LGE: Malaysia economy is on the right track now

 

 KUALA LUMPUR: Malaysia’s economy is on the right track when it stresses on sustainable growth with fiscal discipline, prudent budgeting, monetary stability and low inflation.

Finance Minister, Lim Guan Eng said, the economic fundamentals of Malaysia remain strong and further enhanced by the new government’s commitments towards institutional reforms that promote CAT governance of competency, accountability and transparency.

He said, investors are aware that this is reflected by high record business and consumer confidence in Malaysia.

“Whilst Malaysia may be suffering from legacy issues like corruption and global factors outside our control, the only way to go up is through institutional reforms.

“If Malaysia can successfully navigate the fiscal challenges for the next three years, those who invest now can expect a substantial profits or returns to their investments later,” he said in a statement on Wednesday.

Guan Eng also added, the trade war also benefits the country because Malaysia can be the safe harbour for the United States of America (USA) and Chinese investors and manufacturers.

Guan Eng who is also the Secretary General of DAP emphasized that even though Malaysia is hit by the 1MDB scandals and the decline in the value of the Malaysian Ringgit (RM) caused by the trade war between the USA and China yet Malaysia remain an attractive option.

“Despite these drawbacks the Ringgit and capital markets have not collapsed because investors are aware that these are legacy issues of corruption from the previous regime. They are confident that the government is committed to cleaning up the country and liberating our international reputations as a global kleptocracy at its worst,” Guan Eng added.

Guan Eng said, Tun Dr. Mahathir Mohamad’s return to the Prime Ministership of a young government that showcases a mix of experience and youth, administrative competence with technical competence as well as a passion to clean up Malaysia and fight corruption.

Whilst Malaysia grapple with the trillion Ringgit debt for the next three years caused by 1MDB scandals and the decline in value of RM caused by the looming trade war between China and USA, Malaysia remains an attractive destination for investors. –Malaysia World News

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