‘What is the most appropriate budget for Malaysia to navigate the economic recession that the Covid pandemic has precipitated? This is the crucial issue we should be discussing so that appropriate solutions can be found. Each country needs to develop a national consensus on how the finite financial capacity of the nation should be deployed to limit the health and economic fallout of the ongoing pandemic. Unfortunately, we in Malaysia have been distracted by political intrigues for far too long.
‘The PSM would like to share our analysis of the current recession and put forward a set of ideas on how we should tackle the economic fallout of the Covid Pandemic. We need a clear understanding of the situation we are in so that we can plan coherently for the coming year...’
The analysis and suggestions come under seven headings:
- We cannot “talk up” the economy
- Pumping in more credit into the system is not going to work
- The government has to take the lead role in managing the economy and protecting the rakyat
- This is not going to be a V-shaped recession
- More targeted relief for the poorest families
- A “Green New Deal” for Malaysia
- The government should use “debt monetisation” as one of the methods to raise funds for the programs mentioned above.
Read here (The Malay Mail, Oct 28, 2020)
