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Facing a Global Recession, Economists: Government Needs to Reform the Policy

Senior economist & founder of CORE Indonesia, Hendri Saparini, said the government needed to make breakthroughs for economic recovery and realizing ..
Illustration of an economic recession 

Editor: Lia Sisvita Dinatri

TRIBUNBATAM.di -  Senior economist & founder of CORE Indonesia, Hendri Saparini, said the government needed to make breakthroughs for economic recovery and realizing high, quality and sustainable economic growth

"The government must see the urgency, there must be a breakthrough political step and this is an opportunity for the government to reformat its long-term economic policy. Currently, all countries are experiencing an economic crisis. The IMF has named the current crisis the 'Great Lockdown', which has never been seen in the world before, "he said in a discussion on which was broadcast virtually, Friday (21/8/2020).

He said the recession and economic crisis were now the concern of all countries. Several countries have also entered the brink of recession as a result of the Covid-19 pandemic. The United States (US), Germany, South Korea, and Hong Kong experienced recession. 

The Indonesian economy in the first quarter of 2020 still grew 2.97 percent. However, in the second quarter of 2020 minus 5.32 percent.

Meanwhile, the US economy was minus 32.9 percent in the April-June 2020 period. This was a much sharper contraction compared to the first quarter of 2020 which was recorded at minus 5 percent.

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"Economic growth is negative because all economic machines are stationary. The Corona pandemic has stalled many sectors due to a number of countries implementing lockdowns," he said. 

Hendri said, now is the time for the government to prepare a Long-Term Development Plan (RPJP) 25 for 2020-2045.

This RPJP, he continued, must be agreed upon by all stakeholders. The government, MPR, DPR, DPR must agree to make this RPJP a priority Law (UU) so that it is hoped that its preparation and discussion can be carried out immediately. 

Hendri said, to realize high, quality and sustainable economic growth, the Golden Indonesia RPJP must use a new approach, namely a people and natural resources based development strategy.

This approach can utilize all resources, both natural and cultural resources as well as human resources with smart and strategic policies. (*) 

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Penulis: Lia Sisvita Dinatri
Editor: Lia Sisvita Dinatri
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