Positive ringgit backed by robust economic growth, says minister

Datuk Seri Johari Abdul Ghani says the ringgit is also supported by Malaysia’s strong exports. — Picture by Yusof Mat Isa
Datuk Seri Johari Abdul Ghani says the ringgit is also supported by Malaysia’s strong exports. — Picture by Yusof Mat Isa

KUALA LUMPUR, Jan 11 — The ringgit’s current upward momentum against major currencies is backed by the country’s robust domestic economy and healthy trade performance, underpinned by the recovery in global oil prices.

Second Finance Minister Datuk Seri Johari Abdul Ghani said the ringgit was also supported by Malaysia’s strong export performance, which increased 20.2 per cent from Jan-Nov 2017, as compared to the same period in 2016.

“The global economy is also showing positive growth momentum this year, and is forecast to ramp up between 3.7-3.8 per cent this year (World Bank). This will positively impact Malaysia’s economic growth,” he told reporters after the launch of the new Register of Property Managers here, today. — Bernama

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