COMMENT | Prime minister Muhyiddin Yassin has been worried about the economy for a long time. In a televised Labour Day broadcast, he stressed that the economy suffers a loss of RM2.4 billion per day from the lockdown. The seven-week stay-at-home order has cost the country at least RM63 billion.
If we do not lift the lockdown now, we will stand to lose another RM35 billion. In other words, a lockdown that lasts from March to June will bring almost RM100 billion loss to our country.
This economic logic was also shared with the finance minister. We know that Bank Negara revised its GDP forecast to between minus two percent and 0.5 percent for 2020. The finance minister said in a TV3 interview that the GDP could decline even further from that.
That is why the government decided to ease the lockdown almost entirely. Except for some sectors, almost all businesses are allowed to operate fully, from 4 May.
By prioritising the economy over our health, the government has made a decision that is sudden, disorderly, and reckless...