KUALA LUMPUR (April 24): Yang di-Pertuan Agong Sultan Muhammad V said the Malaysian Government had managed to overcome external pressures on the economy, especially in dealing with the ringgit's depreciation, Bernama reported today.
 
Bernama quoted Sultan Muhammad V as saying the Government's various measures had been sustaining the economy despite the country's economic downturn. As such, he said the people should fully support the Government's strategies to revive the nation's economy.

"We will not be able to go further if we are not together in efforts to improve our economy today," Sultan Muhammad V said during his installation as the 15th Yang di-Pertuan Agong at the Istana Negara here today.

According to Bank Negara Malaysia, the country's economy, as measured by gross domestic product (GDP), grew 4.5% in 2016's fourth quarter from a year earlier. Full-year 2016 GDP expanded 4.2% from a year earlier versus 2015's 5% growth, Bank Negara said.

The ringgit has strengthened. Last Friday (April 21), the ringgit was traded at 4.3993 against the US dollar. Over the last one year, the exchange rate was between 3.8795 and 4.5002.