Virtual Public Discussion – Coronavirus Crisis? Assessing the Impact of COVID-19 on the Indonesian and World Economy
On Monday, 13 April 2020, FPCI held a virtual public discussion on “Coronavirus Crisis? Assessing the Impact of COVID-19 on the Indonesian and World Economy” with Dr. Muhammad Chatib Basri, Indonesian Finance Minister (2013-2014); Enrico Tanuwidjaja, Head of Economic and Research of Bank UOB Indonesia, Dr. Abdul Abiad, Director of Asian Development Bank and Said Zaidansyah, Indonesian Deputy Country Director of Asian Development Bank. Acting as moderator was Dr. Dino Patti Djalal, Founder of FPCI.
The discussion explored that the economic threat from the current COVID-19 pandemic was very different from the 2008 Global Financial Crisis. Thus, past economic policies were no longer relevant and the approach should be different to face the current threat. At the end, the discussion concluded that the government should focus on 3 key important aspects in economic policies namely the health sector, social protection, and support for the SMEs (Small and Medium-sized Enterprises). Getting the outbreak under control should be the government’s top priority because when people get sick, they will be unable to work and the economy will get hit eventually.