KUALA KANGSAR, Aug 22 — The ringgit’s decline against the US dollar is temporary, says Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.
He said the ringgit’s value will recover based on Malaysia’s strong economic position.
“The strong economic growth of the United States as well as low commodity prices globally at present are among reasons behind the ringgit’s decline.
“Despite this, Malaysia’s economic fundamentals are still strong,” he added.
Ahmad Husni was speaking after officiating the Kuala Kangsar Umno Division delegates meeting here today.
He also urged both the public and private sectors as well as the people to be patient in facing the challenging economic circumstances.
“I am looking at the future of the nation and not politically. Others are also facing a similar challenge. I believe it is temporary and we will recover,” he said.
Meanwhile, on 1 Malaysia Development Bhd (1MDB), Ahmad Husni said the entity would settle all its debts by year-end based on the rationalisation plan being implemented.
“In the interim, I would urge all concerned to be patient and not create any negative perception in respect of the government investment body,” he added. — Bernama
