Ringgit's Performance Among The Best In Asia Due To Good Governance - PM Anwar

BUKIT MERTAJAM, Jan 24 (Bernama) -- The ringgit’s performance, now among the best in Asia, proves the effectiveness of good governance policies, political stability, and investor confidence in the country’s economic direction.

Prime Minister Datuk Seri Anwar Ibrahim said the strengthening of the ringgit is also the result of the government’s continuous efforts to ensure the country’s peace, efficient administration, and firm action against corruption and misappropriation.

“Our ringgit is among the best-performing in Asia — not just compared with neighbouring countries, but across the Asia.

“That is why we must work hard and safeguard the country. That’s why I say it starts with governance — there must be no extra money being pocketed, no skimming, no taking of commissions,” he said in his speech at the MADANI Cultural Carnival and Kenduri Rakyat Penang 2026 at the Seberang Perai Tengah district education office in Permatang Pasir here today.

On Friday, the ringgit broke through the important psychological level of 4.00 against the US dollar, reaching its highest level in more than seven years at 3.9992. The last time the ringgit was at that level was on June 18, 2018, when it stood at 3.9960/9990.

Elaborating further, Anwar, who is also the Finance Minister, said contributions from the Malaysian Armed Forces, the Royal Malaysia Police, and other security agencies are crucial in ensuring national stability, which forms the foundation for economic growth and investor confidence.

He also stressed that the government remains firm in addressing abuses of power and corruption, including in the procurement of defence assets, but such actions should not undermine public confidence in the country’s overall security institutions.

On public welfare, the Prime Minister said the government has increased allocations for assistance programmes, including the Sumbangan Tunai Rahmah (STR) and the Sumbangan Asas Rahmah (SARA), totalling RM15 billion. This is on top of a civil service salary increase involving an additional RM18 billion this year.

Anwar explained that savings generated from targeted subsidies, as well as efforts to combat corruption and leakages, have enabled the government to achieve cost savings and subsequently increase allocations for the people, including STR, SARA, and civil servant salaries.

He also said the government has not imposed any new taxes on low-income groups. Instead, it has maintained the RON95 fuel subsidy and ensured that 85 per cent of the population is not affected by the increase in electricity tariffs.

Earlier, MRT Corp chief executive officer Datuk Zarif Hashim presented appointment letters to seven Bumiputera contractors for the Penang Light Rail Transit (LRT) Mutiara Line project, witnessed by Anwar.

They were among the recipients of 10 work packages under the LRT Mutiara Line project, in line with MRT Corp’s Bumiputera development programme.

-- BERNAMA