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Fitch gives thumbs up to Malaysia s resilience

Datuk Seri Zafrul Tengku Abdul Aziz: “Malaysia’s rating affirmation is a testimony of the economy’s resilience amid an uncertain landscape. KUALA LUMPUR: Fitch Ratings’ approval comes amid unprecedented credit rating pressures globally, where the three main credit rating agencies had issued 101 negative outlook positions as of end-2020, says Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. “Malaysia’s rating affirmation is a testimony of the economy’s resilience amid an uncertain landscape, with good medium-term growth prospects and stable current account surplus supported by a diversified market and export offerings. “Malaysia has consistently registered a current account surplus over the past two decades with its largest ever trade surplus of RM184.8bil in 2020, equivalent to 4.2% of the gross domestic product (GDP),” Tengku Zafrul said in a statement yesterday.

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