KOTA BARU – The government views the current decline in the value of the ringgit against the US dollar as only temporary, said Communications and Multimedia Minister Tan Sri Annuar Musa.
He said it was a global issue faced by many countries, and that Bank Negara Malaysia’s Monetary Policy Committee was already looking into the matter.
“We know the value of the ringgit is relative to several currencies. It has gone up, and down as well, but of course most notably so compared with the US dollar.
“There are positives and negatives. The positive thing is that exported goods will fetch a higher value, but we are an importing country, so we have to pay more because payments are made in US dollars,” he said during a press conference after the distribution of “PerantiSiswa Keluarga Malaysia” devices at the Kok Lanas Matriculation College here today.
Annuar, who is also chairman of the Special Task Force on Jihad against Inflation, said in order to strengthen the country’s economic base, the manufacturing and domestic tourism sectors need to show higher demand, and have more substitutes for imports.
“We are advised to buy Malaysian goods, and I believe all this will be seen through the fiscal policy by the Finance Ministry,” he said. – Bernama, September 18, 2022
