MSME, the Savior

Covid-19 has infected people, regardless of status or economic level, and indiscriminately. Developed countries are made helpless, let alone developing countries, and the poor.

KOMPAS/ISMAIL ZAKARIA

A woman arranges a display of locally produced coffee on Thursday (23/7/2020) at a business meeting on micro, small and medium enterprises (MSMEs) in Mataram, West Nusa Tenggara (NTB). Local MSMEs have developed superior products from the NTB administration’s economic assistance for earthquake-affected communities. Today, MSMEs in Lombok have said they have been encouraged by the transition to the “new normal” phase of the Covid-19 mitigation measures.

The Covid-19 pandemic has caused economic recession in almost all countries.

Only a few countries have escaped the recession, namely China, Vietnam and Taiwan. China and Vietnam, which usually grow 6-7 percent, are estimated to only grow one-fourth of their capacity, ranging 1.5-2.0 percent in 2020. Their success is attributed to controlling Covid-19 quickly, supported by a high level of discipline from the government and their people.