FITCH RATINGS POSITIVE REVIEW ON 2018 BUDGET ARE FOR REAL

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In early 2015, the opposition bloc was delighted when Fitch Ratings announced to downgrade the country’s credit rating and it has been more than a year, since then, the agency has always given negative outlook on Malaysia despite other international ratings including Moody’s and Standard & Poor’s have stated that the country’s prospects are stable.And at this point, attacks on PM Najib Razak’s administration were briskly conducted as a result of the weaknesses in 1MDB’s financial management. At the same time, however, in a separate statement, they acknowledged that any uncertainty surrounding 1MDB will not affect the country’s banking and financial system as the lending practices by Malaysian banks is still on the right track and quite good.

Notwithstanding their views, PM Najib and the government under his leadership are determined and committed to continue their efforts to ensure the country’s economy remains robust and competitive despite facing the challenging situations. Hence, Fitch Ratings maintained Malaysia at A-.

As GE14 is around the corner, the opposition bloc, especially from Pakatan Harapan, is increasingly inciting the people that the Barisan Nasional (BN) government should be changed to save Malaysia. Their agenda is ultimately proven to be in inconsistent with the country’s achievements when we received world recognition from the World Bank, International Monetary Fund (IMF) and Fitch Ratings too.

Our 2018 Budget has also been positively recognized by Fitch Ratings as they have reviewed in their published comments as follows;

“We see downside risk to the government’s optimistic revenue projections. Its 2018 GDP growth forecast of 5.0%-5.5% assumes that strong recent momentum will be maintained, but there could be some headwinds from cooling external demand.”

Thus without a doubt, the positive review from Fitch Rating has proven that Prime Minister Datuk Seri Najib Razak has presented a people-centric budget that is evidently transparent, prudent and responsible. Fitch’s reviews are merely based on facts and not some hearsays or unfounded claims as what the Pakatan Harapan mocked them to be just goodies for elections.

In addition, Fitch Ratings also clearly described the 2018 Budget as balanced in meeting the needs of the people while consolidating the country fiscal without sacrificing its target in lowering the deficit. Although state revenues have reduced dependence on oil and gas, commodities still remain as an important contributor to the national economy.

The opposition bloc and mainly those in DAP’s clutch, they ought to open their eyes and minds to the facts that Fitch Rating and other world similar bodies have reviewed on PM Najib’s administration. It will be just a waste of their effort if they are still malicious and continue to slander Barisan Nasional when today, the people definitely choose a government that is capable of achieving and implementing success.

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