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The Finance Ministry said it is working with the Domestic Trade and Cost of Living Ministry (KPDN) to explore mechanisms to adjust prices of imported goods following the ringgit's recent gains
Finance Minister II Datuk Seri Amir Hamzah Azizan noted that the ringgit has strengthened about 14% against the US dollar since early last year, and around 6.5% to 7% against other major currencies.
"The rise of the ringgit is good for imported goods, and our current issue is to ensure that importers also 'pass on the lower cost' to the people.
"This is something we are still analysing and working on with KPDN, and we will monitor if there is an opportunity to reduce the prices of imported goods," he said at a press conference on Saturday, 14 February, reported Bernama.
Finance Minister II Datuk Seri Amir Hamzah Azizan.
Image via Bernama/New Straits TimesHowever, he cautioned that not all prices are expected to fall, given cost increases over the past few years, and that a balance must be maintained between existing cost structures and market conditions
Commenting on Malaysia's economic performance, Amir Hamzah said data from the Department of Statistics Malaysia (DOSM) showed that the economy remains resilient, with gross domestic product (GDP) growth of 6.3% in the fourth quarter and 5.2% for the full year — among the highest in ASEAN.
He attributed the performance to the government's economic reforms, including social protection measures and targeted interventions, which aim to ensure growth benefits reach all segments of society.
The Finance Minister added that the stronger ringgit and improved economic performance have boosted public confidence, reflected in higher spending and mobility
He said these indicate stronger purchasing power and economic stability.
Nevertheless, he stressed that the government remains focused on long-term strategies to strengthen the economy, attract quality investments, and ensure benefits reach citizens through initiatives such as the Sumbangan Asas Rahmah (SARA) programme.
