New economic data show clearly that it will take some time for our country to get back on track with GDP growth of between 5 and 6 percent. Some indicators signify that the recovery path has started, but it is just too soon to seal that conclusion, as the economy just reopened in June. The pain is far from over, as the problem now is weak consumer demand. Retail and automotive sales in June and July were still below their pre-COVID-19 levels. Weak consumer demand also reflected in a significant contraction of consumer goods imports in July.
We have to appreciate the government for the plan to push the demand site with new stimulus schemes, namely wage subsidies for workers, social aid, grants for small and medium enterprises (SMEs) and other relief measures to boost household spending. This way, the government hopes to accelerate the disbursement of stimulus funds. While fine-tuning o…

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