LETTERS: Malaysia has done well in terms of planning to revitalise the economy, with various packages announced since last year.
The question is whether the packages will connect with each other to achieve the end goal.
Will the packages remain just plans, or will they succeed in resetting our economy for the better or at least return it to pre-pandemic levels?
I suppose no one can answer these questions. As long as this pandemic persists, the government will have to step up its efforts to strike a balance between saving people and the economy.
We are in a situation far worse than the Great Depression of the 1930s.
Although the world has experienced pandemics such as the Spanish Flu and Black Death, this time is different because the pandemic is occurring in an era of rapid digitalisation and globalisation.
Thankfully, the vaccine programme played a significant role in helping to revive the economy.
However, if we look at the recovery pattern, it is more of a W-shaped recovery than the V-shaped recovery that we had hoped for.
The world will continue to be affected by the pandemic, but the economy has also become immune to it, most likely due to trust in vaccines and auto-adaptation to the new normal era.
While struggling to regain its footing, Malaysia should be commended for remaining strong and introducing additional packages to assist the people, particularly those who have been adversely affected by a series of Movement Control Orders since last year.
Our unemployment rate is still recovering, and the government is also attempting to keep the inflation rate stable.
Even though we can see the light at the end of the tunnel, we don't know how long it will take us to get there.
We have a lot to think about after the stimulus packages were announced. Specifically, the after-effects of package planning, package implementation, and, most importantly, budget transparency for the people.
The government must be steadfast in carrying out its plans, while also reaching out to rural people who have historically been left behind.
This is always the result of inadequate basic facilities, which prevent them from accessing information the government has already provided for them.
In addition, the government must organise more outreach programmes.
The economy will recover on its own for sure; the only question is how long it will take to return to pre-pandemic levels. Even before the pandemic, we were struggling to eradicate poverty and close income disparities.
We were also attempting to reduce Malaysia's unemployment rate, which appears to be unequally distributed across the states.
As we work to address these issues, the pandemic is being incorporated into the economic model as a strong variable to ensure the recovery of economic growth.
With that, we hope Malaysia will be able to bounce back even stronger than before.
HERNIZA ROXANNE MARCUS
Faculty of Business and Management (Economics), UiTM, Sabah
The views expressed in this article are the author's own and do not necessarily reflect those of the New Straits Times