Without elaborating on the measures to be taken, he said they are based on the economy’s still strong fundamentals as well as favourable investment trends and balance of payments.
“The people should place their trust in the government and give space to the leaders based on our past experience,” he told reporters after the launch of the Perdasama Muda national committee here today.
Earlier, he said the government has experience in handling the ringgit’s large depreciation during the 1997 financial crisis, which was aggravated by a massive outflow of short-term capital.
However, he said, the situation this time around is different in that it has been caused by a fall in commodity prices.
He also urged the people not to resort to panic-buying, saying this would hinder the government’s efforts to put in place economy-boosting measures.
An uncontrolled slide in the value of of the ringgit could hurt the economy in the long term, he added.
Perdasama Muda, a unit under the Malay Businessmen and Industrialist Association of Malaysia (Perdasama), aims to raise Bumiputera participation in the country’s economy.
The unit targets 5,000 members by end-2015 and the focus in its Road Map 2015 is on education, employment, income, business and property premises, said its president Feruddin Emir Moehamad Izat Emir.
— BERNAMA
