GOVT REMAINS COMMITTED TO IMPLEMENTING STRUCTURAL REFORMS, FISCAL STRENGTHENING

The government remains committed and focused in efforts to implement policies for structural reforms and fiscal strengthening over the long term, according to the Finance Ministry (MoF).

The ministry said this is expected to enhance Malaysia's long-term foreign investor appeal, which will in turn contribute towards the strengthening of the ringgit.

“Furthermore, Malaysia has continued to be successful in attracting foreign investments with approved investments surging in the first quarter of this year.

“This development reflects the growing investor confidence in our national economic growth outlook and efforts made by the government,” it said in a written parliamentary reply posted late yesterday.

This inflows of foreign funds and investments are expected to continue and help in supporting the ringgit, the ministry said in reply to a query from Ahmad Fadhli Shaari (PN-Pasir Mas) who wanted to know about government measures to ensure the ringgit's continued stability and a consistent flow of foreign investments via the country's equity market.

With regard to this, MoF said Bank Negara Malaysia will continue to implement appropriate measures to ensure the stability of the domestic currency and foreign exchange market.

“This includes interventions to stem currency movements that are deemed excessive,” it added.