The coronavirus (COVID-19) pandemic and measures to contain it have plunged the world economy into a severe contraction. The International Monetary Fund projects that the global economy will shrink by 4.4 per cent in 2020 – the deepest recession since the Second World War1. The crisis is having a significant impact on Indonesia’s economic growth and efforts to reduce poverty. The country’s gross domestic product is set to contract by 1.1 per cent in 2020 – a painful reversal of the 5.3 per cent growth projected before the pandemic – causing widespread loss of jobs and income2. To avert this worst-case scenario, the Government of Indonesia implemented an emergency fiscal stimulus package and temporarily expanded its social assistance programmes to support low-income families during the crisis.
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Kajian/tulisan yang ditampilkan dalam halaman ini merupakan pendapat akademis penyusun dan tidak mewakili kebijakan/pendapat dari Badan Kebijakan Fiskal, Kementerian Keuangan, Republik Indonesia.
The studies / writings displayed on this page are the compilers' academic opinions and do not represent the policies / opinions of the Fiscal Policy Agency, Ministry of Finance, Republic of Indonesia