Friday, August 27, 2010

Why the Economic Restructuring and Competitiveness Programme (ERCP) ?


Despite attempts to cleverly pepper the ERCP with the jargon of the earlier Stimulus Packages, it still does demarcate itself from those earlier Packages in that it anchors the growth dynamics in more solid stuff in both the short- as well as medium-to-long-term, and the restructuring strategies and productivity enhancement measures easily fall in line. The Stimulus Package had been criticized for not showing any clear intention to resolve the current structural imbalance in the economy, which is so dependent on the Euro market and selective capital inflows.