Fitch’s downgrade won’t stifle efforts to revive economy in 2021 Tengku Zafrul 15 Dec 2020 / 12:35 H. Once the economy recovers, efforts to strengthen the country’s economy will continue said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. Reuters
KUALA LUMPUR: Fitch Ratings’ downgrade for Malaysia’s credit rating from A- to BBB+ will not stifle efforts towards economic recovery in 2021, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
“The Budget 2021 initiatives will continue the recovery momentum and are expected to contribute to the gross domestic product (GDP) growth target of between 6.5 percent to 7.5 percent next year.
“Many have often said this projection is too optimistic. However, Fitch itself has projected the local economy to grow 6.7 percent, in line with Malaysia’s own projection.