Malaysia’s ringgit is gaining strength, buoyed by strong domestic spending and prudent fiscal policies. Second Finance Minister Amir Hamzah projects the currency could reach just below RM4 per USD within a year—its best level since 2018.
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Ringgit to Hit RM4 to $1USD
Despite global uncertainties, he says the ringgit remains resilient. Wage hikes, high employment, and targeted support for SMEs are driving consumption. Budget 2026, worth RM470 billion, aims to reduce the deficit while avoiding new taxes.
Growth will focus on semiconductors, energy, and digital sectors. While IDEAS praises improved tax compliance, it warns reforms are needed. Rare earth exploration is underway, with reserves in opposition-led states.
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