Malaysia's export sector is likely to affected by the ongoing crisis in the euro zone as it hurts the global economy, state-owned news agency Bernama reported Friday, quoting Bank Negara Malaysia Gov. Zeti Akhtar Aziz.
"The euro zone crisis has generated tremendous uncertainty. It has generated tremendous volatility," Zeti was quoted as saying. "But, the point I want to emphasise is, because our market now is more developed, our financial institutions are stronger and the central bank has built up buffers and our reserves are very high, we can intermediate this volatility much better," she added.
"Of course, we are going to be affected. We are going to be affected maybe through the trade channel and through the financial market but we are in a much better position. Our economy is now more diversified and we have a strong domestic economy."
"We also have policy flexibility. Our corporate sector and household sector are not over leveraged," Zeti said.
"The euro zone crisis has generated tremendous uncertainty. It has generated tremendous volatility," Zeti was quoted as saying. "But, the point I want to emphasise is, because our market now is more developed, our financial institutions are stronger and the central bank has built up buffers and our reserves are very high, we can intermediate this volatility much better," she added.
"Of course, we are going to be affected. We are going to be affected maybe through the trade channel and through the financial market but we are in a much better position. Our economy is now more diversified and we have a strong domestic economy."
"We also have policy flexibility. Our corporate sector and household sector are not over leveraged," Zeti said.
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