Ringgit Strengthens 14% Against US Dollar, Amir Hamzah Pledges Benefits Will Reach Malaysians
BALIK PULAU – Malaysia’s ringgit has strengthened by approximately 14 per cent against the US dollar since early last year, creating room for lower import costs and potential consumer price relief, Finance Minister II Amir Hamzah Azizan said today.
He noted that the currency has also appreciated between 6.5 and seven per cent against other major currencies, providing a favourable environment for import-dependent sectors.
The Kementerian Kewangan Malaysia (MoF), he said, is working closely with the Kementerian Perdagangan Dalam Negeri dan Kos Sara Hidup (KPDN) to ensure savings from lower import costs are passed on to consumers rather than fully absorbed within supply chains.
“A stronger ringgit reduces the cost of importing goods. If the savings are passed through effectively, there is room for prices to ease,” he told reporters after the Kampung Angkat MADANI outreach programme in Balik Pulau.
Balancing Cost Structures
Amir Hamzah cautioned, however, that not all prices are expected to decline immediately, as cost pressures accumulated over recent years remain embedded in many sectors.
The government is currently analysing mechanisms to ensure a fair “pass-through” effect while maintaining market stability.
Resilient Economic Performance
Citing data from the Department of Statistics Malaysia (DOSM), he said Malaysia recorded GDP growth of 6.3 per cent in the fourth quarter and 5.2 per cent for the full year — among the strongest performances in ASEAN.
He attributed the resilience to comprehensive economic reforms, targeted interventions and social protection measures designed to ensure inclusive growth.
According to Amir Hamzah, the improved currency performance and economic expansion have bolstered public confidence, reflected in higher spending activity and mobility indicators.
Nonetheless, he stressed that the government’s focus remains on long-term economic strengthening, attracting quality investments and ensuring that development gains reach the rakyat through targeted initiatives such as Sumbangan Asas Rahmah (SARA).
“The ultimate measure of economic success is whether it improves the daily lives of Malaysians,” he said.
-wilayah.com.my
