The Malaysian finance minister told CNBC on Monday that the country is not concerned about investors pulling out of the country in a big way.
Malaysia's financial markets are insulated because the country has raised most of its debt locally, according to the finance minister. The debt ceiling was raised from 60 to 65 percent of GDP to fund the fiscal packages.
98% of our borrowing exposure is ringgit-denominated, according to Zafrul.
He said that they were not as concerned. There will be an effect as markets react to the U.S.
The Southeast Asian country was among those that experienced a "taper tantrum" in the US in the summer of 2013).
The Malaysian economy is on track to grow this year. The threat of the Covid omicron variant would affect the country's growth prospects next year.
Zafrul said he was optimistic that they were able to do what was needed. You never know? Prepare for the worst but not panic.
