The Malaysian economy is not in a crisis and its growth trajectory remains positive, but the country needs to reform to become an innovation-based economy, said Bank Negara Malaysia (BNM).

Governor Nor Shamsiah Mohd Yunus said the fundamentals of the economy and financial system are strong and pre-emptive policy measures have been taken to help weather the challenging external environment.

“These are important facts on the economy and as Malaysians, it is important that we act in a manner that does not jeopardise the recovery and the confidence of...