Bank Negara Malaysia Expects Ringgit to Strengthen in 2024 on Structural Reforms and Positive Growth Prospects
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The Malaysian economy is projected to grow by 4% to 5% in 2024, driven by resilient domestic expenditure and a recovery in exports. Sustained employment and wage increases will support household spending, while investment activity will be fueled by multi-year projects in both the private and public sectors. The ringgit is considered undervalued at its current level, influenced by short-term factors such as US Federal Reserve policy and financial market expectations. Bank Negara Malaysia (BNM) deputy governor Datuk Marzunisham Omar expressed optimism that the ringgit will strengthen in 2024, propelled by structural reforms and positive growth prospects . Malaysia's economy is expected to grow between 4.0% and 5.0% this year, buoyed by household spending and private consumption. The ringgit...
#newstr #MalaysianEconomy #EconomicGrowth #Ringgit #DomesticExpenditure #Exports