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Don’t expect the economy to grow if the pandemic can’t be controlled




Jakarta, CNN Indonesia –

President Joko Widodo (Jokowi) declare the keyeconomic growth IThere is only one Indonesia, namely the successful control of Covid-19 cases. It means,economic growth become impossible if the government cannot control covid-19.

“The key is one, being able to control the covid-19 pandemic, that’s all, so why am I speaking loud and clear to governors, regents, mayors, because the key is there. Without being able to control covid-19, don “I don’t expect economic growth to exist,” Jokowi said at the Ministry of Investment’s national coordination meeting on Wednesday 11/24.

Jokowi said the COVID-19 pandemic was accompanied by various hard-to-predict “side effects”. The effects involved, such as the rise in world oil prices, spikes in inflation, the weakening by the Fed, the scarcity of logistics distribution containers.

Apart from that, Jokowi said that another problem the world will face is bringing the state revenue and expenditure budget deficit ratio (APBN) back to its pre-covid-19 position.

As a reminder, almost all countries in the world need funding to deal with the COVID-19 pandemic from a health, social and economic point of view.

As a result, various countries around the world are busy getting into debt and widening the state budget deficit. As the economy recovers, various countries are trying to curb their spending and this is happening simultaneously.

So far, Jokowi admits he hasn’t measured the impact of the sharp slowdown in financial deficits around the world.

“Imagine tens of trillions being held back together because they want to get back to a normal deficit, it’s also scary but there was no calculation,” Jokowi said.

The Ministry of Finance recorded a state budget deficit of IDR 548.9 trillion in October 2021. This figure is equivalent to 3.29% of gross domestic product (GDP).

The deficit realization decreased compared to October 2020 which reached 764.8 trillion rupees or 4.67% of GDP.

The decline in the deficit occurred in parallel with the increase in government revenue. It was recorded that the total state income in October 2021 was 1,510 trillion rupees, an increase of 18.2% compared to October 2020, which was 1,277 trillion rupees.

Meanwhile, state spending was recorded at 2,058.9 trillion rupees, an increase of 0.8% on an annual basis from October 2021. This figure equates to 74.9% of l expenditure target of Rs 2,750 billion.

[Gambas:Video CNN]

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