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Malaysia can weather rising oil price challenge – governor

Malaysia can weather rising oil price challenge governor

Tan Sri Dr Zeti Akhtar Aziz, the governor of Bank Negara said that the country is ready and wellequipped to take on the challenges in light of the rising costs in the global economy particularlyin the crude oil sector.

This was proven back in 2008 when the global price oil reached USD147per barrel where Malaysia came out stronger and hence with what the economy is currentlyexperiencing, Malaysia should be able to weather the challenge. The recent rise in global price havespurred the rising cost of other commodities and this resulting in the announcement that petrolprice in Malaysia could well be on its way up very soon.