Business

Government to continue reinforcing economic fundamentals

KUALA LUMPUR – February 25, 2016: The government will continue to reinforce the country’s economic fundamentals to strengthen its rating status by international rating agencies, said Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar.

After the launching of Ekuinas’ corporate social responsility programme here today, Wahid told reporters that  three rating agencies, Moody’s Investors Service (Moody’s), Standard and Poor’s (S&P) and Fitch Ratings have given Malaysia the same credit rating of between A3 and A- alongside stable outlooks.

“Fitch’s ratings for Malaysia factored in the government’s proactive measures in the recalibrated Budget 2016,” he added.

On Tuesday, Fitch Ratings has maintained the country’s A- stable outlook, saying the government remained committed to its fiscal consolidation path following the budget recalibration efforts last month.

The issue ratings on Malaysia’s senior unsecured local-currency bonds were also affirmed at ‘A’ while the country’s ceiling was affirmed at ‘A’ and the short-term foreign-currency IDR at ‘F2’.

The ratings were driven, among others, by the authorities’ commitment to fiscal consolidation path, stable ringgit, reserves and stronger economic growth, the ratings agency announced.

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Amira Nutfah Zulkifli

Amira Nutfah Zulkifli

A budding journalist. Aside of struggling to understand Malaysian political scenario, she is inspired to study and fight for women's emancipation. Above the rest; she simply loves her nation.