Challenges of Economic Recovery
The year 2020 has been turbulent, with no precedent in dealing with the COVID-19 pandemic. Our ability to end this health crisis will determine the speed of economic recovery.
Customers gather at a street stall in Jakarta on November 5, 2020, as Indonesia tumbles into first recession since the Asian financial crisis.
The year 2020 has been turbulent, with no precedent in dealing with the COVID-19 pandemic. Our ability to end this health crisis will determine the speed of economic recovery.
This point is the reason why Indonesia’s 2021 economic recovery should be regarded with cautious optimism. The national economic recovery, which started in the second half of 2020, is highly likely to continue into 2021, but the scale, speed, and degree of inclusivity of the recovery will be deter-mined by how well we can manage the COVID-19 pandemic. If we take longer to control the pandemic, the economy will remain in statis for a longer time. This is the main challenge faced in recovering the economy. The success of the mass vaccination program will be key to solve this issue.