Fitch Downgrade Highlights Budget 2021 Not Enough?

Last week, Fitch Ratings downgraded Malaysia's sovereign rating from A- to BBB+ with a stable outlook, a move which shocked many who expected the rating agency to take a more lenient stance in light of the global pandemic. The result? It may be more costly now for Malaysia to borrow funds. Having spoken to both Fitch Ratings and the Finance Ministry, we now reach out for a third view, speaking with Dr Ong Kian Ming, Bangi MP and former Deputy Minister of International Trade, for his take on the matter.

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