Zeti questions Fitch's outlook on Malaysia
Publish date: Thu, 23 Apr 2015, 03:20 AM
KUALA LUMPUR: Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz has questioned the basis of Fitch Ratings' possible downgrade on Malaysia given the country's strong fundamentals.
"When we look at it, against our peers, we are at least as good as or even better in terms of growth prospects and performance because we have a solid financial system, our fiscal position had shown a track record of reduction in deficit and our external debt is relatively low compared with some of our peers.
"The question is - What has been the basis of that outlook?" she said in a plenary session at the Invest Malaysia 2015 conference here today.
Also present were Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar and Khanazah Nasional Bhd managing director Tan Sri Azman Mokhtar.
The two-day conference, which starts today, is jointly organised by Bursa Malaysia and CIMB Group.
On fiscal position, Zeti said, several reforms had been undertaken to improve Malaysia's position such as subsidy rationalisation, which had generated savings of more than RM20 billion, on top of the implementation of the Goods and Services Tax (GST).
Asked if the GST would hurt domestic demand, which was currently the main driver of the economy, she said there had been some moderation in spending but the impact was cushioned by the lower oil prices.
On the impact of the weakening oil price on the economy, Abdul Wahid said the country's reliance on its oil and gas revenue, which currently stood at 30 per cent, had been reducing.
"We will continue to lessen our dependence on the sector by diversifying our revenue sources," he said.
On the 11th Malaysia Plan to be tabled in Dewan Rakyat on May 21, Wahid said the government would announce "several game-changers" which would focus more on inclusive and sustainable components on the economic model. - Bernama
Discussions
Be the first to like this. Showing 25 of 25 comments
when a doctor taken an x-rax for you and it shows bone fracture clearly in the xray. do u question the doctor?
wakakaka.
u can also question the x-ray machine faulty.
malaysian boleh.
2015-04-24 19:57
to a logical person they should question the other 2 x-ray that shows no bone fracture.
they should also question their x-ray machine integrity.
having said that, this is bolehland. anything boleh.
2015-04-24 20:17
when u said things that are not pleasing to ears in bolehland.
tak boleh pakai.
if u said pleasing things enough to the right ppls. you ady dato or tansri liao.
2015-04-24 23:01
Ks55, you are too naive to understand what's going on when u start to question as to why our currency drop against Sing Dollar n Thai Bath. If you truly do not understand what's happening I believe you do not have the right to question something beyond your comprehension. Just don't try to be too smart, to comment and create confusion and hatred ...your question reflect s ur intellectual capacity. So just let the Governor do her work....we do not need negative comments without giving some suggestions that help to alleviate the situation.
2015-04-24 23:10
i think zeti make a wrong move...
if Fitch fight back to justify their position by doing a detail x-ray.
walao, more bone fractures. and dislocation.
she only dare to b cocky now oil recovering to 70 ma. tns. why kept quite for 3 months.
2015-04-24 23:10
aiyo, got headmaster come to scold ady.
freedom of speech la. i dont think anyone given u the right to stop ppls from expressing their opinion, thats the reason this is a forum. and not a court.
2015-04-24 23:12
Ha ha moron is lecturing people about freedom of speech
He is the worst offender when come to stifling free speech. Personal attacks, libel, mockery, you named it...
2015-04-24 23:19
Optimusprime, u may be right but then again, sometime when you do not defend / explain the situation people may think that whatever they say is true without understanding the true situation. So I still think that it's best for us to response ...
2015-04-24 23:19
zhang, appreciate your view.
but there is a moron icon8888 u better not listen to him, he bring many ppls to hor hor hor
lan.
2015-04-24 23:21
icon8888 said klci will drop below 1600 this year, and oil price will drop to usd4 march2015.
admit it, u said it.
wakakakakakaka.
2015-04-24 23:24
r u sure? who? give me their name? or you cook out. just becos u no face ady lost to me so many rounds.
2015-04-24 23:25
goodnite loser icon8888. when i see u appear i think better play with my cats.
2015-04-24 23:26
I think the discussion /comments are getting morbid, let's be more positive n constructive so as to make this forum more credible..
2015-04-24 23:34
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Is she a joker or pretend everything is ok ?
2015-04-24 17:41