Qualampur: Moody’s Ratings (Moody’s) re -confirmed Malaysia’s sovereign credit rating on “A3” with a “A3”, while announced that Malaysia’s medium -term growth possibilities remain strong.
The Finance Ministry (MOF) said in a statement today, “It is constant efforts made by the government to maintain economic development, as well as its fiscal reforms despite the uncertainty and geopolitical fragmentation of the global economy again. Refers to continuing.
Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim said that Moody’s confirmation recognizes the tireless efforts of the Madani government to bring structural changes directed by clear policy directions and unwavering commitment to high governance standards.
He said in the statement, “The government remains firm to pursue economic reforms and promote regional development, ensuring its reform agenda for the benefit of all Malaysian people.”
Anwar said that the Madani government will pursue fiscal and economic reforms this year, as stated in Budget 2025, while quality investment for high -income jobs will be given priority, as well as to support economic diversification and new opportunities. The development of integrated infrastructure will be accelerated.
He said, “We will also take advantage of the chairmanship of ASEAN 2025 of Malaysia to lead the economic block in an integrated economic system that thrives on cooperation and produces mutually profitable results for the region.”
According to Moody’s, Malaysia “will be the fastest growing e-rated economy in the next two years” and the country’s medium-term development prospects remain strong.
The rating agency cited structural credit strength, including a well -diverse economic structure, competitiveness, and comprehensive value stability, one of the factors promoting consumption, which is a deep domestic capital market and a sophisticated financial system Complement by
Moody’s assumes that comprehensive political support has provided a place to implement the government to implement adequate structural and institutional reforms as well as other laws as well as the Public Finance and Fiscal Responsibility Act 2023.
The Finance Ministry said that in this regard, the government is committed to improving public finance by increasing revenue growth and rational efforts to rationalize subsidies.
The fourth quarter is on the way to achieve its economic growth target of 4.8 to 5.3 percent, with an advanced estimate of 4.8 percent of the GDP of 2024 (GDP).
The government is optimistic that the growth rate in 2025 will be strong between 4.5 and 5.5 percent.
Meanwhile, fiscal consolving efforts will reduce the deficit – 4.3 percent of the GDP in 2024 – up to 3.8 percent in 2025, gradually in line with the fiscal target under the Public Finance and Fiscal Responsibility Act 2023, the ministry said.
