KUALA LUMPUR: The ringgit closed higher against the US dollar on Friday, supported by the government’s commitment to fiscal consolidation under Budget 2027, an analyst said.

At 6pm, the ringgit climbed to 4.0830/4.0875 against the greenback from Thursday’s close of 4.0890/4.0940.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said Malaysia’s fiscal deficit is expected to narrow to 3.3% of gross domestic product (GDP) next year from an estimated 3.6% in 2026.