News & Articles Economy remains on steady path
Economy remains on steady path
13 Aug 2015
KUALA LUMPUR: The Malaysian economy grew by 4.9 per cent in the second quarter. Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said the economy remains on a steady growth path.
Malaysia remains one of the better performing economies despite the unsettling times. She said the economy will remain resilient in the face of the challenging environment.
Leading indicators suggest expansion in activities going forward.
Impact of ringgit depreciation on growth and inflation is contained, underpinned by the diversified economy.
Businesses with high import content face higher costs but export-oriented businesses will benefit from higher proceeds.
Declining commodity price and domestic factors contributed to additional pressure on the ringgit.
The exchange rate, being the absorber to shocks, is subjected to volatility from time to time.
"Despite ringgit adjustments, conditions in the financial markets remain orderly," she told a packed media conference.
On the international reserves which dipped below US$100 billion, Zeti said it is anticipated. It is an outcome when facing sharp capital reversal.
It is lower but remain ample to facilitate transactions.
Malaysia remains one of the better performing economies despite the unsettling times. She said the economy will remain resilient in the face of the challenging environment.
Leading indicators suggest expansion in activities going forward.
Impact of ringgit depreciation on growth and inflation is contained, underpinned by the diversified economy.
Businesses with high import content face higher costs but export-oriented businesses will benefit from higher proceeds.
Declining commodity price and domestic factors contributed to additional pressure on the ringgit.
The exchange rate, being the absorber to shocks, is subjected to volatility from time to time.
"Despite ringgit adjustments, conditions in the financial markets remain orderly," she told a packed media conference.
On the international reserves which dipped below US$100 billion, Zeti said it is anticipated. It is an outcome when facing sharp capital reversal.
It is lower but remain ample to facilitate transactions.
Source: New Straits Times
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