PM: Moody's Affirmation Of A3 Rating Confirms Strong Economy
25 views · Published 8 December 2017 · 1:54 · Indexed 24 September 2026
Channel: 7Edition · 2017 · News & Politics
Moody's Investors Service's affirmation of Malaysia's local and foreign currency issuer and senior unsecured bond ratings at A3 with a stable outlook is evidence of the country's economy being on the right track. Prime Minster, Datuk Seri Mohd Najib Tun Razak, who is also the Finance Minister tweeted, the affirmation means that the efforts of the Barisan Nasional government is bearing fruit. In a statement today, Moody's said the goverment's debt burden is expected to remain high but broadly stable. It said the government's commitment to fiscal consolidation has resulted in fiscal deficits narrowing in each of the past seven consecutive years. For 2018, Moody's expects the country's fiscal deficit to narrow to 2.8 percent in GDP, in line with the budget projections. It also expects Malaysia's GDP growth to average 5.1 percent, making Malaysia one of the fastest growing A-rated sovereigns. Malaysia's economy expanded at 6.3 percent in the third quarter of 2017 compared with 4.3 percent in the same quarter, last year.
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