Fitch affirmation shows international community's confidence - Annuar

Fitch Ratings' affirmation of Malaysia's currency ratings yesterday with stable outlooks is clear evidence of the international community's confidence in the country's economic fundamentals and financial position, said UMNO Information Chief Tan Sri Annuar Musa.

The positive ratings are a huge recognition of Prime Minister Datuk Seri Najib Razak's policies and ability in managing the country's economy, he said.

"On Jan 28, Najib announced 11 measures in the recalibrated 2016 Budget to ensure the country's economy and financial position stayed on the right track.

"He had stressed that despite the impact of the global economic situation and falling crude oil prices, the government would do what is right for the nation and people, including by continuing to exercise prudent spending and prioritising people-based high-impact programmes and projects," he said in a statement.

Yesterday, Fitch Ratings affirmed Malaysia's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'A-' and 'A', respectively, with stable outlooks.