LANGKAWI: The strengthening of ringgit, coupled with the anticipated progressive 2025 Budget, is set to elevate Malaysia's standing as it prepares to assume the Asean chairmanship next year.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the ringgit surged to 4.12 against the US dollar yesterday, emerging as one of the top-performing currencies.
"When the ringgit strengthens, the national economy rises, investments grow, and naturally, this fosters positive perceptions and confidence in our capability to lead Asean chairmanship next year.
"The national economy grew by 4.2 per cent in the first quarter of this year, up from 2.9 per cent in the previous quarter.
"Meanwhile, the Gross Domestic Product (GDP) increased by 5.9 per cent in the second quarter," he said during a press conference after inspecting the development of the Madani Adopted Village programme in Pulau Tuba today.
Malaysia has chaired Asean four times, in 1977, 1997, 2005, and 2015.
Amir Hamzah said the strong performance is further highlighted by the unemployment rate, which dropped to 3.3 per cent in the first quarter of this year, matching pre-pandemic levels.
Commenting on the tabling of the 2025 Budget in the parliament on October 18, he said the government would continue to focus on the implementation of the Madani Economy Framework.
"We will continue to strengthen Madani Economy initiatives, advocating regional integration to reduce social inequality and ensure fair returns to the people," he said.
Regarding the Madani Adopted Village programme development project in Pulau Tuba, Amir Hamzah said the island's 5,000 residents will benefit from RM2.5 million in funding for 12 development projects.
"These include upgrading the jetty for local convenience and enhancing tourist facilities, which are expected to boost the local economy.
"Other projects include the installation of 100 solar-powered lamps through a collaboration with Universiti Malaysia Perlis (UniMAP) and the construction of tube wells for mosque congregations," he added.