Najib confident Malaysia will be ‘protected’ from eurozone crisis
KUALA LUMPUR, July 14 — The prime minister today expressed confidence that Malaysia would be “protected” from the effects of the European Union’s debt crisis.
Datuk Seri Najib Razak attributed his confidence to Malaysia’s fundamentally stable economy which could support its growth.
“Malaysia’s fundamentally stable economy supports its growth. Our country will be protected from the eurozone crisis,” said Najib, who is also finance minister, on Twitter today.
Yesterday, Bank Negara Malaysia governor Tan Sri Zeti Akhtar Aziz said Malaysia’s financial institutions were strong enough to face the impact of Europe’s debt crisis following revelations that the European banks’ exposure was estimated at less than five per cent of the zone’s Gross Domestic Product.
The statement also denied a Nomura International Ltd report last Wednesday which stated Malaysia was among the most exposed Asian country to European banks, making it vulnerable to any economic collapse there. — Bernama