The ASEAN+3 Macroeconomic
Research Office Ltd (AMRO) is positive on prospects in Malaysia, saying the
local economy is on the right fiscal track and is seen as one of the
beneficiaries of a global recovery in the oil industry.
“Malaysia is doing
alright. It has also benefitted from the recovery in oil prices. The (fiscal)
discipline that it shows now also implies that there will be more going forward
and this will be good," its chief economist Dr Khor Hoe Ee told reporters at
the Asean Roundtable Series titled What Lessons Learned from Financial Crises
of Recent Times today.
The roundtable was
organised by CIMB Asean Research Institute, in collaboration with the Asean
Business Club and the Official Monetary and Financial Institutions Forum.
"The new government
is probably recalibrating its policies, which is quite natural. I don’t think
there will be a big shift. Overall, we’re very positive of the prospects for
Malaysia,” Khor added.
On Asean's readiness to
face a potential financial crisis, Khor said emerging markets in the region has
learnt from lessons on crisis management and resolution during the 1997 Asian
financial crisis, noting they have taken a lot of pre-emptive measures in case
of a major shock on the financial market.
“If a crisis were to
happen…I’m relatively optimistic that there won’t be any financial crisis for
the countries in this region,” he added.
Earlier during the
roundtable, Khor noted regional outlook remains challenging, given the tension
between short-term growth and financial stability objectives, as it comes at a
time when policy space has generally been narrowed.
“In the medium term, it is
important to strengthen the regional financial safety net, while accelerating
the structural reform agenda for a continuous income convergence in the longer
term,” Khor said.
Source: https://www.theedgemarkets.com/article/amro-says-malaysia-right-path-positive-prospects
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