Answer to Question #239938 in Microeconomics for Graylin Lapi

Question #239938

As announced in the 2021-2022 National Budget, the Fijian Government is supporting formal and informal sector employees on Viti Levu who are affected by the pandemic through monthly payments of $120 for a period of six months (August 2021 – January 2022). The Fiji Sun dated 23rd August, 2021 reports “Attorney-General and Minister for Economy yesterday tweeted that: “Days ahead of schedule, we have met the once-in-a-century COVID-19 crisis with one of the largest assistance payouts in history. $72m was paid in unemployment benefits to 200,000 Fijians. In the coming days, we’ll reach 60,000 more bringing the total payout to around $94m.”

As an economist you are trying to assess this COVID-19 benefit scheme. In the essay critically evaluate the above COVID-19 Unemployment Assistance from the Fijian Government.  Follow the rubric below – have an introduction, body and conclusion.

 


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Expert's answer
2021-09-21T10:58:49-0400

A definitive effect of the spending plan relies upon the acknowledgment of anticipation that incomes and adherence should meet usage responsibilities. In case wages are not completely acknowledged, continuation of use responsibilities will rely upon the public authority's capacity to get to extra financing (and help in real money). Something else, there will be a need to rearrange and withdraw use responsibilities – particularly if homegrown monetary conditions deteriorate as Coronavirus contaminations keep on rising. 


Given the current financial way, even as the more terrible impacts of the pandemic subside, monetary difficulties will stay huge. The way towards short-to medium-term recuperation will rely upon something other than homegrown strategies and outer climate – work will be expected to remake business, financial backer and political certainty.


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