Impact of COVID-19’s Pandemic on the Economy of Indonesia

Abstract

COVID-19 is a global health problem including in Indonesia. The increased case of COVID-19 proved to have quite a significant impact on the economy globally which may have affected stability in Indonesia. This method of collecting data is a method of study literature with secondary data types. Data is taken from the Internet with respect to the validity of information such as government official information, official online sites and processed results of valid data. After obtaining the existing reference, a sorting of information that is appropriate to the topic of discussion. Data analysis is presented in graphical form and comes with a descriptive narrative. Based on the research, the impact of COVID-19 pandemic affects the economy in Indonesia. The affected sectors during the COVID-19 pandemic are transportation, tourism, trade, health and other sectors, but the economic sector most affected by COVID-19 is the household sector. Optimizing the potential in the country, the decline of BI-7 Day Reverse Repo Rate (BI7DRR), the interest rate of Deposit facility, and Lending facility interest rate, monitoring of global and domestic economic development conducted by Indonesia was assessed precisely so that inflation and stability remain in control.

The impact of Covid-19 on Gig economy

“…Shifting the focus from global to domestic, (Susilawati et al, 2020) studied the impact of Covid-19 on Indonesian economy. The study concluded that the Covid-19 has significant adverse impact on different sectors of Indonesian economy.…”

“…The manuscript proposed that the pandemic will cause global economic recession. Some other studies have analyzed the impact of Covid-19 on economies of different countries and regions (Giulietti, 2020;Mahendra Dev & Sengupta, 2020;Susilawati et al, 2020).…”

Penguatan Ketahanan Masyarakat terhadap Pandemi Covid-19 dengan Program Kuliah Kerja Nyata

“…Berbagai bentuk kebijakan pembatasan aktifitas masyarakat yang ditempuh untuk mencegah penyebaran COVID-19 otomatis menghambat dan menekan pertumbuhan ekonomi. Beberapa sektor yang terkena dampak akibat pandemic Covid-19 antara lain transportasi, pariwisata, perdagangan, pendidikan, kesehatan, dan yang paling serius adalah rumah tangga (Susilawati et al, 2020). Terhambatnya beberapa sektor diatas menyebabkan berkurangnya tenaga kerja yang dibutuhkan sehingga banyak perusahaan yang melakukan pemutusan hubungan kerja (PHK).…”

Regulation Village Funds as Cash Direct Aid for Poor People in Rural Area due to Covid-19 Pandemic in Indonesia

“…This reduction in workforce has also resulted in increased unemployment and poverty, especially in rural areas. The Indonesian government in this condition has tried to accelerate state spending and divert the state budget for handling, preventing Covid-19 and overcoming the impact due to the implementation of this large-scale social restriction [12].…”