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Jakarta Post

A frozen winter for the global economy and Indonesia’s response

  • Kiki Verico

    Jakarta

Jakarta   /   Mon, October 12 2020   /  01:00 am
Clear signal: A technician maintains a 4G Base Transceiver Station (BTS) tower in Bendungan Hilir, Central Jakarta, on July 13, 2018. The information and communication technology industry is one of several sectors that have maintained growth during the COVID-19 pandemic.(JP/Dhoni Setiawan)

As a result of continuing COVID-19 outbreaks in a number of countries, the global economic recovery is expected to take longer, getting closer to its initial forecast and entering the below-zero economic growth zone. Some countries have recovered from the pandemic, while others are struggling to contain it. The more successful the containment of the pandemic, the more room there is for national economies to recover. As more countries have cases of the virus than those that do not, the global outlook is gloomy. A frozen economic winter is in store for the world economy. In a freezing winter, people choose to stay mostly at home. Similarly, most people around the globe are staying home. Nevertheless, people need to heat their homes to stay alive. In the economy, the heater is government expenditure. As of August, Indonesia’s annual government expenditure had increased 13.97 per...