Jakarta –
Indonesia is inseparable from the threat of recession due to the Corona virus pandemic. Because neighboring Singapore has felt the impact after the economy was minus in two consecutive quarters.
Then, what should the community do to prepare for a recession?
Bhima Yudhistira, an economist at the Institute for Development of Economics and Finance (INDEF), said that the public must save from now on to prepare emergency funds during the recession. Because if a recession does occur, it is not known how long it will last.
“Also reduce spending that is not appropriate to the needs and focus on food and health needs. So don’t fall into the wasteful lifestyle. Pandemic teaches us what can be saved turns out to make the personal financial endurance stronger,” Bhima said detikcom, Friday (7/17/2020).
The same thing was said by the Director of Research of the Center for Reform on Economics (CORE) of Indonesia, Piter Abdullah. According to him, at a time like this people should not be wasteful and have to prepare for the worst conditions to meet the financial needs.
“Still have to be prepared to prepare for the worst conditions, if the recession is prolonged. This needs strong stamina, including sufficient savings. Don’t be wasteful,” he said.
Besides preparing a lot of savings, the community is also advised to maintain health so that the recession is not prolonged. Because the recession occurred due to the deadly virus Corona (COVID-19).
“The main thing is maintaining health. Recession is caused by the plague, therefore the main solution to dealing with recession is to end the plague. If the outbreak ends, the recession will end,” he said.
To note, if a recession does occur it can lead to a decline in all economic activity. The most easily felt is the decrease in the number of jobs created.
Deputy Director of the Institute for Development of Economics and Finance (INDEF) Eko Listiyanto once explained that when the recession occurred there would be an explosion of a wave of unemployment. In the end, the poor will increase.
“I think the biggest impact was unemployment and poverty,” he said when contacted by AFP on May 29, 2020.
Watch Video “Hit by Corona Virus, Japan’s Economy Towards the Abyss of Recession“
[Gambas:Video 20detik]
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