00:00What financial measures is Malaysia planning to deal with the tariffs?
00:15I think PM has made it quite clear that this one is something that we should take our time
00:21to analyse and to see how we react.
00:24So from a government point of view, we set up a special committee headed by PM and then
00:29we will look at the impacts and what we need to do to support as necessary, but more importantly
00:35working together also with our ASEAN partners to see how we can build resilience within
00:41the system.
00:42We have to also recognise that we will have to engage.
00:45We have to engage to see how we can get to a better outcome.
00:48So I think that's the objective and MITI is taking the lead in terms of approaches
00:53of how we deal with the US in this instance.
00:55What is the plan to do once the GDP?
00:57I think Bank Negara and so on are looking at the data today.
01:02Again, as you are all aware, the tariff announcement was last week.
01:08At the moment, it's also the first salvo that actually went out.
01:11So as we go in, we talk, we discuss, this may change.
01:16As the outcomes change, I think the GDP also will be re-established based on what's the
01:21final outcome.
01:22One should not be too quick to take decisions and do rash things along the way.
01:27Again, the difference again for Malaysia is I think we have to be realistic, we have to
01:33be realistic.
01:34This is a challenging environment for the globe, but practical minds, calm minds will
01:39actually help us pave the way forward that we will get to a better state.
01:44Is 5% still achievable in 2025 for the Malaysian economy and will you use ringgit devaluation
01:51as a tool to face Trump's tariff?
01:54I think the reality is, as I said earlier, we are looking at what the final outcome will be.
02:01If the final outcome is going to be a lot more challenging, then like any normal country,
02:08we will address the growth estimates for the future.
02:12But for the moment, we are still working through the analysis and we're still working through
02:16in discussions with the US and also with our regional partners in terms of looking
02:20at diversification, looking at things that we can do together to build a better face forward.
02:26And when that's addressed, then I think we will adjust the growth, whether positive or
02:31negative accordingly.
02:32Ringgit, I think Malaysia has always had an open economy and the objective of Benegara
02:39is to keep a stable market, so that there is price stability in the market and we can
02:44manage that portion.
02:46And we've seen volatility before, but ultimately a stable, predictable environment allows trade
02:51to prosper in a better form.
02:52I think that's what our focus at this point in time.
02:54In previous expectations, you were expecting appreciation for ringgit in 2025 to be like
02:59a three against dollar, but there's now a big change after Trump's tariff.
03:06So any range you're expecting for 2025?
03:08I think the reality, I don't think anybody made a projection that it's going to be three
03:11or whatever it is.
03:13Again, the key mandate for Benegara is to keep...
03:15On the previous Bloomberg interviews?
03:17No, no.
03:18At the end of the day, the key mandate of Benegara is to provide price stability in
03:22the market, to provide an environment where businesses can operate.
03:26And I think that will continue to be Benegara's mandate and it will operate along that line.
03:30Alright, thank you.
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