Jakarta –
Indonesian economic growth in the second quarter of 2020 it was recorded at minus 5.32%. Indonesia is said to be at the threshold economic recession and follow other countries such as Singapore, South Korea, and the Philippines.
Then if it is true Indonesia has experienced economic recession, how will it affect the people?
INDEF Senior Economist Aviliani said a recession is not the end of everything, a recession occurs because economic growth for two consecutive quarters of minus.
“It is not as if the world is doomed by a recession. If two consecutive negative quarters are a recession, if these two negative quarters, many companies have to streamline their costs because it has to lay off people,” said Aviliani in the Duta Bangsa Webinar, Saturday. (8/8/2020).
In addition, people’s income will be disrupted because company layoffs or pay cuts. Therefore, people are asked to be prepared if they are laid off, how to manage finances, at least if conditions improve, they can live again in a decent way.
If you are an entrepreneur, you have to rack your brain, in addition to efficiency, let alone the effort that must be done. According to Aviliani, if there is a recession, don’t just stand still and wait for time.
According to him, currently the government is slow in spending the new 20% stimulus, whereas it should have been 60%. Aviliani explained that due to COVID-19, many people brake or reduce spending.
Instead, consumption and spending are needed to boost growth.
“Now these rich people have money in the bank, it can be seen from the growth of third party funds which reached 8%. They don’t consume much,” he explained.
According to Aviliani, the Indonesian economy is projected to improve in the fourth quarter of this year because of the many stimuli provided by the government.
Watch Video “South Korean Celebrities-Farmers Work Together to Face the Economic Crisis“
[Gambas:Video 20detik]
(kil / hns)
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