‘The government’s direct fiscal injection, which amounts to about 2.4% of gross domestic product, already pales in comparison to many developed countries, which have shorter lockdown periods. We can no longer safely assume a U-shaped economic recovery and near-full recovery in the fourth quarter of 2020 even if the government were to throw in more financial lifelines for the deeply wounded small and medium enterprises – we fear it would be “too little, too late”.
‘“We also fear that the country’s unemployment rate will spike well beyond the 4% baseline assumed by the government.”
Read here (The Edge, April 24, 2020)
