PUTRAJAYA: The strengthening of the ringgit demonstrates that the MADANI government has successfully shifted global perceptions of Malaysia’s economic fundamentals, said Communications Minister Fahmi Fadzil.
He noted that the ringgit had reached a high of RM4.19 against the US dollar as of 10:20 am today, surpassing the earlier forecast of RM4.50 by year-end.
According to Fahmi, the launch of three key frameworks last year --MADANI Economy, New Industrial Master Plan 2030 (NIMP 2030) and the National Energy Transition Roadmap (NETR) -- has led to rapid changes in the country within a short span of time.
“In two years, the MADANI Government has successfully placed Malaysia on the right track, and we are witnessing, among other things, a strong ringgit at RM4.19 against the US dollar,” he told reporters after the Ministry of Communications’ monthly assembly here today.
Fahmi, who is also the spokesperson for the Unity Government, highlighted other achievements by the government, including the increase in trade and investments.
He added that in July, Prime Minister Datuk Seri Anwar Ibrahim announced in Parliament that the new debt level has decreased since the MADANI Government took over.
At the same time, he pointed out that reduction of deficits, stable inflation, rising employment and consequently low unemployment rates is proof that Malaysia is on the right path.
He also said that Malaysia is set to become one of the key regional hubs for semiconductor production and exports worldwide.
However, Fahmi reminded Malaysians not to become complacent with these successes, given ongoing challenges such as the tense situation in the Middle East, particularly in Lebanon and Palestine, where ceasefire and peace have yet to be achieved.
