{"id":28045,"date":"2017-01-13T10:43:58","date_gmt":"2017-01-13T02:43:58","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=28045"},"modified":"2017-01-13T10:47:03","modified_gmt":"2017-01-13T02:47:03","slug":"no-need-for-budget-recalibration-says-johari","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/no-need-for-budget-recalibration-says-johari","title":{"rendered":"No Need For Budget Recalibration, Says Johari"},"content":{"rendered":"

Budget 2017 will not be recalibrated even as ringgit continues to weaken against the US dollar.<\/p>\n

Second Finance Minister Datuk Johari Abdul Ghani ruled out budget recalibration for 2017, saying that the Malaysian economy would be resilient and would adjust accordingly against adversities, including the weak ringgit.<\/p>\n

\u201cThe economic fundamentals are okay. We just need to give time for everybody to do the adjustment (then) the market will come back and the currency will strengthen again,\u201d he was quoted by the English daily, The Malay Mail<\/em>.<\/p>\n

The weakening ringgit is partly due to the anticipation of changes that may be implemented by the US President-elect Donald Trump, such as an inward driven economic policy which would lead to interest rate hike in the US, said Johari.<\/p>\n

\u201cIf the yields (there) increase, then the whole spectrum of investment in Asia will slowly change because people will go for better yields in the US,\u201d he said.<\/p>\n

Speculation of the reintroduction of capital control by the government was also rubbished by Johari, as it was against the country’s open economic policy.<\/p>\n

\u201cWe are not going to do any pegging and we will not control our capital flows.<\/p>\n

\u201cWe will allow any investor who wishes to repatriate their funds from Malaysia, to do so,\u201d he added.<\/p>\n

[Source<\/a>]<\/em><\/p>\n

Image from Malaysia Outlook.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Budget 2017 will not be recalibrated despite weaker ringgit. <\/p>\n","protected":false},"author":9,"featured_media":28046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[311,271,216],"tags":[],"class_list":["post-28045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budget-2017","category-economy","category-news-updates"],"acf":[],"yoast_head":"\nNo Need For Budget Recalibation<\/title>\n<meta name=\"description\" content=\"Budget 2017 will not be recalibrated despite weaker ringgit.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/no-need-for-budget-recalibration-says-johari\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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