NEWS

Education, healthcare and social welfare are key areas the government must address in Budget 2021, as these can contribute to both short- and long-term prosperity. At present, social welfare measures need to be implemented to combat rising unemployment and underemployment to mitigate effects on the economy, one being a change in consumption pattern.

Underemployment is rarely addressed compared to unemployment. Due to the MCO, industries have had reduced operating hours, which typically resulted in lower salaries and wages received, particularly in semi-skilled and low-skilled jobs. If left unaddressed, there is a risk Malaysia will be faced with higher levels of underemployment and unemployment compared to prior to the COVID-19 pandemic.

Belanjawan 2021 sepatutnya mempunyai defisit belanjawan lebih tinggi untuk pemulihan ekonomi lebih pantas. Kadar meminjam pada waktu ini dijangka akan lebih berdaya saing dan berada pada tahap terendah. Ianya tidak akan memberi keburukan kerana banyak negara dijangka melakukan perkara sama bagi merangsang kembali ekonomi yang terjejas kerana pandemik COVID-19.

The government should not be afraid of incurring a larger budget deficit and should borrow more to speed up economic recovery. Immediate efforts should focus on supporting those who have lost jobs or have reduced income. The creation of better jobs will be vital as we recover, and the health & education sectors are areas the government should stimulate.

Pengembangan sektor pendidikan awam dan penjagaan kesihatan awam akan mewujudkan peluang pekerjaan dan meningkatkan pendapatan ketika permintaan buruh sektor swasta dilihat lemah, serta membantu Malaysia mendepani dua cabaran jangka panjang, iaitu perubahan teknologi & demografi.

The creation of good jobs and securing livelihoods through decent pay should be of first and utmost importance in the nation's economic agenda as we battle through this pandemic turned economic crisis as a "national mission" in a "whole of government" approach.

Governments should not obsess over increasing debt with borrowing, as now is the time to spend to mitigate the effects of the Covid-19 pandemic

Malaysia needs bold socioeconomic policies to kickstart economic recovery and to realign economic priorities towards more sustainable and resilient forms of work.