Moody’s maintains Malaysia’s ratingPETALING JAYA: Moody’s Investors Service’s move to
affirm Malaysia’s A3 rating is testimony to the government’s strong fiscal discipline and robust medium-term growth prospects amid the Covid-19 pandemic, Tengku Datuk Seri Zafrul Tengku Abdul Aziz says.
The Finance Minister said yesterday the rating agency acknowledged Malaysia’s economic prospects due to the earnest containment measures, including four comprehensive economic stimulus packages valued at RM305bil, or about 20% of gross domestic product (GDP).
“It also demonstrates Moody’s confidence in Malaysia amidst unprecedented credit rating adjustments globally, with Credit Rating Agencies (CRAs) taking more than 220 negative rating actions since the onset of the pandemic, ” he said in a statement.
The International Monetary Fund (IMF), he said, estimated the global economy contracted by 3.5% in 2020, while facing an estimated cost of US$22 trillion from 2020 to 2025.
As for Malaysia, Tengku Zafrul said these four economic stimulus packages announced throughout 2020 are expected to have contributed up to four percentage points to GDP and on track with a projected growth target of 6.5% to 7.5% in 2021.
https://www.thestar.com.my/business/busines...alaysias-rating Moody’s will always be the last among 3 credit rating agencies on their assessments