Jakarta, CNN Indonesia –
Chief Economist PT Mandiri Bank (Persero) Tbk Andry Asmoro revealed class society the economy middle and upper class still tend to hold their consumption and choose to save. This condition is reflected in the number savings above Rp. 5 billion which was up.
He said savings over IDR 5 billion in the August 2020 period alone reached IDR 373 trillion.
“Compared to the same period last year, it was only Rp. 115 trillion. In comparison full In 2018 and 2019, it was only IDR 130 trillion and IDR 162 trillion, “he said in the 2021 State Budget Talk, Tuesday (13/10).
From this condition, he said that the problem of consumption of the upper middle class is the belief in economic conditions. Unfortunately, this group believes that the current economic condition is still shrouded in uncertainty.
This condition prompted them to choose to hold their consumption and save their money in banks.
“It indicates people prefer to save (chose to save), because it still is uncertainty (uncertainty), “he said.
He said that the upper middle class people tend to choose to stay at home when the Covid-19 case increases. As a result, the economic activity of this group has decreased.
“They have money and the ability to spend, but when there are a lot of Covid-19 cases, they are at home and they have the ability to survive at home, so that various indicators become sloping,” he said.
For information, the household consumption component contracted 5.51 percent in the second quarter of 2020. This figure is far behind compared to the same period last year which still grew positively by 5.18 percent.
As a result, economic growth is also minus up to 5.32 percent because the contribution of household consumption to GDP reaches 57.85 percent.
(ulf / agt)