News Item: The Economy of Indonesia in Time of Pandemic

COVID-19, or Coronavirus Disease 2019, has spread to Indonesia. Coronavirus has a significant impact on the decline in the health of the Indonesian people, but the Indonesian economy has also declined. The world supply chain has changed, so foreign investment in Indonesia has decreased. The increased number of unemployed can prove the Indonesian economy is in trouble. 

The spread of the Coronavirus is swift worldwide, including in Indonesia. The virus is enough to change the order of human life. People are asked to keep their distance, wear masks, and avoid crowds and lockdowns. Large or small-scale production activities have experienced disruptions due to the lockdown. Restrictions between countries have become one of the reasons foreign investment in Indonesia has been withdrawn and has decreased. Prices of staple goods rise, and stores or companies experience bankruptcy, ultimately impacting employees experiencing dismissal. 

A survey conducted by JobStreet recorded that 54 percent of employees had experienced mass layoffs due to the pandemic. "We have seen much information. By the end of this year, unemployment is predicted to increase by four million-5 million and reach 11 million. That is a very significant number," said Faridah in a virtual discussion, quoted on Thursday (8/10). Looking at the survey results, it can be proven that the COVID-19 pandemic is a big reason for the economic downturn in Indonesia.