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Read, the Government's Short-Term Program to Restore Indonesia's Economy
Selasa, 17 November 2020
Liputan6.com, Jakarta - Special Staff to the Coordinating Minister for Economic Affairs Reza Y. Siregar said the Covid-19 pandemic provided an opportunity for sustainable economic transformation in resilience to global shocks.
According to Reza, Indonesia can learn a lot from the Covid-19 pandemic crisis. Where the previous crisis pandemic caused a decline in demand, and production sector activity occurred at the same time and was very deep. As a result, there is a rapid disruption of supply and demand.
Therefore, the short-term government policy (2020-2021) is how to mitigate the impact of Covid-19. Especially in employment, and encourage the recovery process of growth.
"We see that in this short-term process, the restoration of confidence for spending and increasing demand are the short-term targets of the PC-PEN policy," said Reza in the 2021 Market Outlook "Resilience to Counter Economic Turbulence - Day 1, Tuesday (17/11/2020).
Later, the Government will not only prepare policies to maintain and mitigate the impact of COVID-19, but he sees that the mitigation process from this crisis must be synergized with sustainable economic transformation.
"Only with a coherent process between recovery and transformation will we get sustainable economic resilience in the future," he said.
For example, reforms with the issuance of the Job Creation Law will bridge the crisis impact mitigation policy program with economic transformation policies in the medium-long term.
Furthermore, he said, at the beginning of the pandemic, this crisis caused an imbalance between demand and supply.
“If we are not careful, this weakness in supply and demand will attract each other which will lead to a sustainable economic recession. So one of the initial processes that we must strengthen is to cut the link between short-term demand and supply," he said.
That way, Indonesia can carry out an economic transformation that is sustainable in resilience to global shocks, if supply and demand are controlled in the current crisis pandemic
