Political stability is crucial for Malaysia’s economy to grow, said Minister in the Prime Minister’s Department Abdul Rahman Dahlan.

He said as the 14th General Elections (GE14) approach, the country will need a strong government by an experienced political party.

"Political fireworks are expected over the next three to four months. Having a stable political situation will translate into good economic growth," he said during the 2018 Standard Chartered Global Research Briefing in Kuala Lumpur today.

The current parliamentary term expires on June 26, which means GE14 must be called within 60 days from that date.

Abdul Rahman also said that the business community hoped for a stable and good policy, but so far the opposition's economic policy was nothing but disastrous and could wreck the economic fundamentals.

"They (opposition) plan to bring back subsidies which is popular, but it will be detrimental to the economy," he added.

Alluding to the ringgit’s current appreciation against the US dollar, Abdul Rahman said that the economic fundamentals had proven to be successful, as reflected not only by the firmer ringgit but also the Gross Domestic Product (GDP) which had improved and was above expectations.

"We (BN) has consistent and stable policies and if we continue to govern, we can assure you that this will be continued," he said.

As of 9 am today, the ringgit stood at 3.9010/9040 against the greenback from Wednesday's close of 3.9110/9140.

Commenting on the nation's debt, Rahman stressed that it was under control as it is still below 55 percent of the self-imposed limit.

"We are investing in infrastructure which will contribute to the future economic growth. The GDP is growing, the economy is doing great and the debt level is growing which is alright because it is backed by strong economic fundamentals," he said.

As of end-September 2017, the nation's debt amounted to RM687.43 billion.

— Bernama