KUALA LUMPUR: Strong economic fundamentals and prudent ringgit management are expected to contribute to the strengthening of the ringgit against the US dollar despite several temporary factors that have contributed to the ringgit's current depreciation, Minister of Finance Tengku Datuk Seri Zafrul Tengku Abdul Aziz said. "What is more important are our economy’s strong fundamentals such as the country’s continued economic growth prospects,” he said in a statement today. "At the same time, the expectation of a current account surplus means that demand for the ringgit will remain strong,” he said. Moving forward, Tengku Zafrul said the Ministry of Finance (MoF) is optimistic about the country’s economic growth prospects with Malaysia’s GDP expected to grow between 5.3 and 6.3 per cent in 2022, contributing to the ringgit’s stability. "The MoF and Bank Negara Malaysia (BNM) will continue to monitor both financial and non-financial risks to the national economy in order to maintain economic stability and the well-being of all Malaysians,” he added.
