Jokowi to Hold Cabinet Meeting on Economic Impacts of Coronavirus
Translator
Ricky Mohammad Nugraha
Editor
Petir Garda Bhwana
Selasa, 11 Februari 2020 10:02 WIB
TEMPO.CO, Jakarta - State-owned Enterprise Minister Erick Thohir said President Jokowi is set to hold a meeting this Tuesday with Cabinet members in facing a possible economic recession due to the novel coronavirus outbreak.
“[The meeting will discuss] ways to anticipate a global economic recession if the coronavirus outbreak ceases to stop or would last for months due to the lack of cure available,” said Erick at Jakarta’s Hotel Fairmont on Monday.
According to the minister, global trade relations and investments could possibly take a huge hit due to the prolonged outbreak, moreover, investments that involve technology from China that is currently limited.
“Major projects can be hampered, investment projects,” said Erick.
One of the most crucial sectors he worries about is the pharmaceutical industry as Indonesia relies on 60 percent of its pharmaceutical productions from China and 30 percent from India. “What would we do next if the raw materials are not able to be sent, what would we make our medicines out of?”
The situation could get worse following the decline of international tourist visits along with deteriorating exports.
“I am not trying to spread fear, it’s just that we must be ready [for such circumstances regarding the coronavirus],” said the SOEs Minister.
CAESAR AKBAR
