Expansion of Social Protection to Lower Middle Class
If someone had described today’s media headlines to me a few months ago, I would have thought they were talking about the plot of a film.
Banyuwangi Regent Abdullah Azwar Anas shared a social safety net in the form of food supplies for daily income residents affected by Covid-19 pandemic in Banyuwangi, on Friday (18/3/2020).
If someone had described today’s media headlines to me a few months ago, I would have thought they were talking about the plot of a film.
How come? Within only a few weeks, most countries in the world have closed their economic activities, hoping to prevent death from Covid-19. Factories have stopped, restaurants and shopping outlets are closed, and unemployment rates are skyrocketing throughout the world. Not only that, the impact of the global recession is also felt in countries that have not implemented regional quarantine. A global recession is expected due to a drastic decline in global trade and demand. The International Monetary Fund (IMF) has estimated that the gross domestic product (GDP) of the world will contract by 3 percent in 2020, the worse contraction since the Great Depression of 1930.