Budget 2021 will need to incorporate measures to ensure the survival of the economy in the short term, while balancing this with the creation of good jobs and a stronger social safety net, to lay the foundations for a dynamic economy in the future.
The COVID-19 crisis firmly brought into mainstream thought the benefits of robust systems of social protection.
Malaysia’s low key attitude towards recent incidents and recommendations on how to balance between defending Malaysia’s national interests vs diffusing tensions..
Contrasting living wage requirements against median household income and wages, this paper issues a strong argument for the need for the provision of a stronger system of social protection and government’s role in putting forward policies that stimulate job and wage growth in forward-looking sectors.
Coordination between government and businesses becomes important to reopening the coronavirus-closed economy while meeting public health goals.
Covid-19 and climate change are both quintessential collective action problems, where inaction on the part of any one nation can create adverse consequences around the world.
In this day and age, where most of the population in the hardest hit countries have a smartphone on them at all times, the technological opportunities for contact tracing are vast and might be key to restarting economy for post-Covid-19.
Covid-19 crisis has alerted the government to embrace a truly diverse, modern agricultural sector, one that can ensure long-term resiliency in Malaysia’s food security.
To cushion the sudden global downturn, the government need to double down on measures announced, expand scope of application to more workers and businesses, and do it quickly.
While the stimulus package primarily aims to tide over workers and businesses through tumultuous short-term economic currents, the government should also evaluate these measures with an eye on the long term, and look to promote a transformation of the economy to new growth sectors and higher productivity, and prepare the workforce for the future.