Ringgit weakness significantly impacts Malaysia's IMD competitiveness ranking - Tengku Zafrul

Publish date: Fri, 21 Jun 2024, 12:37 PM

KUALA LUMPUR: Malaysia's decline in the IMD's World Competitiveness Rankings 2024 is due to the weakness of the ringgit last year, according to Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz.

He explained that based on the ministry's preliminary study, the primary reason for the country's drop in the index from the 27th place in 2023 to the 34th spot in 2024 was the reliance on 2023 data to measure national competitiveness.

"(The report) was based on data from last year, 2023, compared to 2022, so there is a one-year lag. The factor that had the most significant impact is the stability of the ringgit, as highlighted in the rankings," he said after launching the Centralised Sustainability Intelligence (CSI) Solution at Bursa Malaysia today.



  - Bernama

Discussions
Be the first to like this. Showing 3 of 4 comments

yeinemesis

When Ringgit falls some politicians will say its good for the country as our price of goods will be cheap & attractive. Good for the economy. But when our ranking drops then blame back the on the low value of the currency.

3 weeks ago

speakup

ni semua pasal Pmx! GE16 kasi bantai Pmx!

3 weeks ago

KH6996

If PMX focus on our economy instead of politics, our RM would not be where it is today. Save diesel subsidies and spent the RM4B on those who may not even want to vote for him GE15, instead of reducing the budget deficit, how can RM strengthen? On top of that, there is another RM11B he promised the Govt servants in Dec24, it looked like fast track of increasing price of RON95. Then RM will probably be badly affected.

3 weeks ago

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