DESPITE the ghost of 1MDB lingering in the background and the bad politics surrounding it, the news on the economy is encouraging. The ringgit is now one of Asia’s best performing currencies, benefitting from the stronger oil prices, implementation of the GST and the growing dynamism of domestic economic activities in driving GDP growth.
With Europe and Japan adopting easy monetary policies to spur their domestic recovery, driving down yields in their home markets, foreign funds are turning to emerging economies in pursuit of better returns. Malaysia is also seeing foreign funds returning to our economy, keeping our stock market relatively resilient to the global uncertainties and helping our external reserves to remain in a stable condition .
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