OJK: Economic Recovery Depends on Covid-19 Mitigation

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Petir Garda Bhwana

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  • TEMPO.CO, JakartaThe Financial Services Authority (OJK) deputy commissioner for public relations and logistics, Anto Prabowo, said the economic recovery from the Covid-19 pandemic depends on the problem-solving in the health sector.

    “The economic recovery will highly depend on the end of the health crisis caused by Covid-19,” said Anto in a discussion via teleconference on Tuesday, September 22, 2020.

    According to him, the stimulus provided by the government to the financial industry, including banks, would not be adequate to revive the economy as long as the pandemic has not been contained yet.

    Indonesia, he added, will still face challenges of uncertainty in the economy due to the pandemic and global geopolitical conditions, as well as maintain the economic stability and positive public sentiment towards the financial services industry. “And implement economic rehabilitation in the field.”

    Instead of waiting for the end of the pandemic, efforts are needed to revive the economy so that the V-shape recovery, a solid and fast recovery by reopening public activities gradually and in measurable ways, could be developed.

    Therefore, Anto reiterated that OJK is focused on the future by opening the possibility to extend the relaxation of credit restructuring as regulated in its decree No. 11/2020, supporting the government’s programs on the national economic recovery, optimizing roles in driving the economy, and distributing aids to the community.

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    MUHAMMAD HENDARTYO