# Strong economic fundamentals, prudent management to contribute to stronger ringgit, says finance minister | Malay Mail

> Finance Minister Tengku Zafrul said strong economic fundamentals and prudent management by Bank Negara Malaysia should support the ringgit despite recent temporary depreciation pressures. He pointed to GDP growth of 5% in Q1 2022 and an IMF forecast of 5.75% growth for 2022.

- Date: 2022-05-28 · published 2022-05-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/41675-strong-economic-fundamentals-prudent-management-to-contribute-to-stronger
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Government signals that the central bank will limit volatility suggest the ringgit may stabilize or firm, which would ease dollar-based import costs for feed buyers.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2022/05/28/strong-economic-fundamentals-prudent-management-to-contribute-to-stronger-ringgit-says-finance-minister/9402

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.