THE economy continues to rebound. Unemployment in July was 4.6%, down from 4.8% in June and the high of 5.3% in May.

Manufacturing is also in a rebound, with sales in July growing by 2.1% from June.

Yet, we continue to hear calls for more stimulus measures. These include for the government to spend more to pump prime the economy, to extend the wage-subsidy programme and to extend the loan moratorium.

These are misguided and misinformed suggestions, given where we are in the economic cycle.

Measures like the wage subsidy and moratorium are like steroids and painkillers. They help provide pain relief and jolts of energy.

This was essential when the Malaysian economy was rushed into the emergency ward when the movement-control order was imposed in March. 

The country has since then been discharged from hospital and it is time for the medications to change.

While the economy as a whole is showing a strong recovery, parts of the economy are still in pain. A good doctor will, therefore, change the prescription to the circumstances of the patient.

The prescription would entail more targeted relief, with the medicine localised and the dosage adjusted as need be.

At the same time, the doctor might prescribe some medicines and therapies which might be unpleasant but help promote healing and recovery.

If the doctor maintains the same level of dosage and does not change the prescription to best meet the needs of the patient, the doctor is acting unprofessionally and unethically by harming the patient. If anything, he is only promoting drug addiction.

Like it or not, the country must rid itself of its addiction to debt and government handouts. – September 12, 2020.

* JP reads The Malaysian Insight.

* This is the opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insight. Article may be edited for brevity and clarity.