10208
Malaysia PM Says: Economy on Track
World Economy

Malaysia PM Says: Economy on Track

International rating agency, Moody’s Investors Service’s positive outlook for Malaysia is a reaffirmation that the country’s economy is on the right track, Prime Minister Datuk Seri Najib Tun Razak said.
Speaking at a press conference after chairing the Umno Supreme Council meeting here Friday, he said the Supreme Council members were aware that the country’s economic achievements were something to be proud of despite the challenges at hand, Bernama reported.
“I’ve informed the Supreme Council on the special address (on Budget 2015 revision) that I had delivered on the current economic situation and the Supreme Council accepted that what we are confronted with is not a crisis or a recession, but rather a spin-off effect of factors outside of our control, especially the sharp fall in oil prices,” he said.
Moody’s has affirmed the government bond and issuer ratings of the government of Malaysia at A3, while the outlook remains positive.
It said the A3 ratings were based on the progress in fiscal reform and ongoing deficit reduction, credit concerns relevant to the rating action coupled with fundamental strengths remained intact despite lower commodity prices as well as global financial market volatility.
Najib recently unveiled pre-emptive measures to ensure the country’s economy remains resilience and meet its deficit-reduction targets amid the volatile economic landscape.
On a claim that some individuals are trying to take advantage of the situation to sabotage the economy, he said the evidence needed to be gathered first and relevant government agencies should take appropriate actions if they were true.
Deputy Umno president Tan Sri Muhyiddin Yassin was also present.

Short URL : http://goo.gl/JPPAVM

You can also read ...

Close to 40% of digital transformation initiatives will be supported by AI capabilities.
The digital economy in Asia-Pacific, or APAC, is expected to...
An electronic stock indicator of a securities firm in Tokyo.
As investors come to terms with the impending end of easy...
Most economists would agree that Italy needs faster economic growth if it is to resolve its public debt  and banking-sector problems in an orderly manner.
Italy’s economy is growing again, but it’s still the worst...
Maersk is expanding its competitive universe to include different types of companies.
The world’s largest container company will start looking for...
Lloyds Profits Miss Forecasts
Lloyds Banking Group PLC raised its 2017 dividend by 20% and...
CBs May Top Inflation Targets
Not only will central banks meet their inflation targets, they...
NZ Says Pacific Trade Deal Will Boost GDP
New Zealand estimates a Pacific trade deal would boost its...
Pak Current Account Gap Widens
Pakistan’s current account deficit widened 28.74% on a month-...

Trending

Googleplus