KOTA KINABALU, October 8 – Economy Minister Rafizi Ramli emphasized that Malaysia, as an open market economy, is not immune to global economic shocks but benefits from open trade policies. He noted that Malaysia’s position as one of the world’s top-20 largest trading nations illustrates the advantages of such an approach, despite the external risks it faces.
Speaking after the launch of the Sabah PKR State Leadership Council office, Rafizi highlighted that geopolitical conflicts and global economic decisions, such as US Federal Reserve rate changes and wars in Ukraine and Gaza, affect Malaysia’s economy. To mitigate these impacts, he stressed the importance of fiscal reforms and strong financial governance to navigate future uncertainties.
