Domestic investment, wage growth: Malaysia ramps up efforts to revitalise economy after narrowly missing growth targets

Consumers have also been told to opt for local goods and services, invest in products that are denominated in ringgit, and also travel domestically.

Such efforts can help them save money, and also go a long way in shoring up the ringgit, according to the government.

Some locals told CNA they are supportive of such efforts to help their country, including travelling locally which can be more cost efficient.

However, some note that just because something is made in Malaysia and costs less does not make it an immediate choice for consumers, as there are other factors such as the quality of the product to consider.

Local products are not exactly cheap now either, with prices now higher compared to last year and the year before, said a delivery rider.

POOR WAGE GROWTH

Malaysia is also facing poor wage growth, with levels having largely remained stagnant in the past decade, according to economists.