Zafrul: Govt not 'too fixated' on ringgit performance
- 2 years ago
Finance Minister Tengku Zafrul Abdul Aziz has brushed off concerns regarding the ringgit’s performance.
He was cited by Bernama as saying that the government would not be “too fixated” on how the currency was doing as the focus remained on the mid-to-long term performance of the economy.
“You have to understand the inflation rate in the US. The monetary tools that are available in Malaysia or other markets depend on the economic scenario of the particular country.
“The inflation rate in Malaysia in the first six to seven months (of 2022) is 2.8 percent, so we could have an accommodative economic policy, (with) very large fiscal support,” Zafrul was quoted as saying.
He was cited by Bernama as saying that the government would not be “too fixated” on how the currency was doing as the focus remained on the mid-to-long term performance of the economy.
“You have to understand the inflation rate in the US. The monetary tools that are available in Malaysia or other markets depend on the economic scenario of the particular country.
“The inflation rate in Malaysia in the first six to seven months (of 2022) is 2.8 percent, so we could have an accommodative economic policy, (with) very large fiscal support,” Zafrul was quoted as saying.