Covid-19: Short-term response, but not short-term thinking — Christopher Choong | Malay Mail

MARCH 25 — We like to throw around big numbers, perhaps to calm investors and appease credit rating agencies. But it fails to assuage growing anxieties on the ground, especially workers and households who are inundated with basic concerns of survival and solvency. This is understandable. Of the...

Wednesday, 25 Mar 2020 07:33 PM MYT

Hence, while monetary policy announced yesterday seems clear and measured, fiscal policy continues to lag behind, constituting only about 2.9 per cent of the total package thus far. However, it is in the realm of fiscal policy that subsidies and social assistance can be delivered swiftly and broadly to workers and households.

With the challenges of finding fiscal space highlighted here, and without any resolve yet from the looks of it, coupled with monetary policy already at RM100 billion, I am concerned that the next recourse would be to dip deeper into our social protection funds administered by both EPF and Socso.

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