Najib: Govt to act against economic saboteurs

PETALING JAYA: The Government will act against those who are deliberately sabotaging the economy if such claims are true, said Prime Minister Datuk Seri Najib Tun Razak (pic).

"We have to obtain evidence first over what's being alleged," said Najib at the Umno Supreme Council meeting on Friday.

The Umno president added that he wanted the relevant government authorities to take appropriate action.

Allegations of a prominent businessman using his influence and position to manipulate the ringgit for personal gain had surfaced on blogs recently.

Bloggers claim the individual is cashing in on a short position on the ringgit which is akin to betting the currency would depreciate.

Despite the weakening ringgit, Najib said the economy was on the right track.

He pointed out Moody's Investors Service had affirmed Malaysia’s positive rating due to fiscal reforms and the country's fundamental credit strengths. 

Najib reiterated the country was not facing an economic crisis and the Government had taken mitigating measures including revising the budget.