Sudden policy announcements: Uncertainty causing fear of spending money

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Last-minute Covid-19 policy announcements will cause people to become uncertain about their future which will lead to reluctance in spending money, even if they receive financial aid from the government.This is the exact opposite of what is needed to revive the economy, said Khazanah Research Institute research advisor Jomo Kwame Sundaram (above)."We have to remember that businesses cannot just be closed like (flipping) a switch. We cannot say close tomorrow and then in two weeks, tell them they can open with a day’s notice."They cannot anticipate the next hit and they cannot plan for it so when they get a little bit of (financial) help, which is not much, and they do not know when they can get their next source of income, they would rather not spend the money," he said.The economist explained that financial aid which reaches the public, especially the needy, sh…