Jokowi Notes Cabinet to Prepare for Recession
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14 April 2020 15:46 WIB
TEMPO.CO, Jakarta - In a plenary cabinet meeting on Tuesday, April 14, 2020, President Joko "Jokowi" Widodo reminded state-ministers and regional heads to prepare for a possible global economic recession due to the coronavirus (COVID-19) pandemic.
"Many international organizations such as IMF, the World Bank, and many others are predicting a global economic recession. The last report I received calculated that the economy could see negative growth," said the President during the online plenary meeting.
Jokowi claimed that he had received a report stating that the global economy could see a -2.8 percent correction in 2020 due to the worldwide impact caused by the coronavirus. Therefore, the President asserted the importance of preparing multiple plans to face such a scenario.
Despite the plausible economic downturn, Jokowi encouraged people to remain positive and hope that the economy will soon recover. "Whether it is in health or in the economy, Insha Allah we will recover," said the former Jakarta governor.
The 2020 State Budget predicted that the domestic economy will grow by 5.3 percent growth. However, the number is predicted to reach only 2.3 percent if the coronavirus (COVID-19) outbreak does not subside.
ANTARA
