Malaysia will ‘look more attractive’ as economy, ringgit surge: minister
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Malaysia is set for robust economic growth, with Second Finance Minister Amir Hamzah Azizan stating that the ringgit will strengthen due to economic reforms and a decline in interest rate differentials with the US. The ringgit is currently the best performer in emerging markets this year. Prime Minister Anwar Ibrahim's administration aims to reduce the budget deficit below 3% of GDP by 2028, with a record spending plan for 2025 that includes higher taxes and lower subsidies. The government plans to end blanket subsidies for RON95 fuel by May, saving about 8 billion ringgit (US$1.8 billion) annually. Malaysia's GDP is expected to grow by 4.5% to 5.5% in 2025, exceeding analysts' predictions. The government is also reviewing potential product dumping by China in its market.
#Malaysia #Economy #Ringgit #Investment #AnwarIbrahim #FiscalPolicy #Subsidies #GdpGrowth #InterestRates #Geopolitics
https://www.scmp.com/news/asia/southeast-asia/article/3283786/malaysia-will-look-more-attractive-economy-ringgit-surge-minister
South China Morning Post /
npub1x2…knuvq
2024-10-25 04:10:27
Author Public Key
npub1x2q0x7w5tqx0x3j9tdvkvqmetarpr8axhpjq7qw5xxrcysdwtrzssknuvqPublished at
2024-10-25 04:10:27Event JSON
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"content": "Malaysia will ‘look more attractive’ as economy, ringgit surge: minister\n==========\n\nMalaysia is set for robust economic growth, with Second Finance Minister Amir Hamzah Azizan stating that the ringgit will strengthen due to economic reforms and a decline in interest rate differentials with the US. The ringgit is currently the best performer in emerging markets this year. Prime Minister Anwar Ibrahim's administration aims to reduce the budget deficit below 3% of GDP by 2028, with a record spending plan for 2025 that includes higher taxes and lower subsidies. The government plans to end blanket subsidies for RON95 fuel by May, saving about 8 billion ringgit (US$1.8 billion) annually. Malaysia's GDP is expected to grow by 4.5% to 5.5% in 2025, exceeding analysts' predictions. The government is also reviewing potential product dumping by China in its market.\n\n#Malaysia #Economy #Ringgit #Investment #AnwarIbrahim #FiscalPolicy #Subsidies #GdpGrowth #InterestRates #Geopolitics\n\nhttps://www.scmp.com/news/asia/southeast-asia/article/3283786/malaysia-will-look-more-attractive-economy-ringgit-surge-minister",
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