Humans have always struggled in striking a balance between short-term gains and long-term returns because the human brain is hard-wired to favour instant gratification. Responsible policy making will ensure that any trade-offs were worth the gains, whether in the long or immediate term. To build the foundations for long-term reforms through immediate-term decisions, the MoF is guided by three key principles — responsive, responsible and reformist. Hence, MoF-curated responsive short-term measures must also fulfil the responsible criteria. Reforms premised on ESG considerations to build long-term socioeconomic resilience are our best defence against future shocks and pandemics.
