Giving the economy a boost via the ERP

As Socio-Economic Research Centre executive director Lee Heng Guie put it, economic stabilisation and recovery following a major shock can be a tricky and frustrating experience for the government, partly because so many economic factors are out of its control. He said the rehabilitation phase is to stabilise domestic economic and business conditions as well as enable the economy to recover sustainably amid the ongoing containment of the Covid-19.

PETALING JAYA: The government has shifted its gear to take on the steep uphill ride in rebooting the economy that has been brought to a halt by the coronavirus (Covid-19) pandemic.

The short-term economic recovery plan (ERP) that is expected to be announced by the Prime Minister tomorrow is aimed at giving the economy a boost, a month after most industries have reopened, and also to cushion the blow from the imminent contraction in the economy as projected by the International Monetary Fund and the World Bank.