Fiscal Policy in the New Normal Period

Jakarta(02/10/2020). This webinar presents Ms. Masyita Crystallin PhD, Special Staff of the Minister of Finance of the Republic of Indonesia in the form of fiscal and macroeconomic policy formulation. 

Global economic growth in early 2020 began to show signs of decline, starting with a decline in economic growth in developed countries, even developing countries. This situation was further exacerbated by the Covid 19 pandemic which was experienced by almost all countries in the world. Indonesia, one of the countries that has experienced the COVID-19 pandemic since it was first announced by the president in March 2020. The COVID-19 pandemic has forced countries to reset their economic achievement targets for 2020 and forecasts for 2021.

The COVID-19 pandemic that requires an extraordinary policy will have an impact on the posture of the 2020 State Budget. The 2020 State Budget is under pressure from the revenue side, and at the same time state spending must increase for health, social assistance and help business actors, this has resulted in a fairly large widening deficit. How the government deals with the New Normal condition with the current state budget posture, of course, requires the right steps, especially those related to fiscal policyamidst global and domestic uncertainties that will still occur.

The efforts made by the government to overcome the COVID-19 pandemic by making adjustments to the 2020 state budget by issuing a Presidential Decree.