The Finance Minister described 2020 as the worst year for global economic growth in the past 150 years

Minister of Finance Mr. Shri Moliani Indira. Photo: – Finance Minister Shri Moliani Indravati said economic growth in 2020 is the worst in 150 years. It is recorded that there are 170 countries in the world that have experienced contractions due to government-19.

“By 2020, 170 countries experienced an economic recession, the worst in 150 years, which came from a World Bank study,” Finance Minister Sri Mulyani said at a conference of Islamic economists on Tuesday. 6/4/2021).

In fact, the impact of the Govt-19 pandemic cannot save countries with large economies such as those members of the G20 forum with an average contraction of 2.07% by 2020.

This proves that Govit-19 does not discriminate. All countries are obligated to formulate appropriate and extraordinary policies. Policies must address health sector problems and have an impact on economic recovery.

The woman said Indonesia, also known as women, is one of 170 countries experiencing contractions. During 2020, the Indonesian economy recorded a contraction of -2.07 percent. The contraction began in the second quarter of 2020, at -5.4 percent.

“Indonesia is witnessing a negative economic contraction of 2.07 percent for 2020, with a deep contraction of negative 5.4 percent in the second quarter of 2020, which is the deepest contraction since the financial crisis experienced by Indonesia in 1997-1998,” he said.

Given the seriousness of Indonesia, it is better than other countries in the G20, ASEAN and Islamic countries. “I often make comparisons so that we don’t live alone because we have a life perspective so we can understand where we are,” he said.

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Mr. Moliani then explained that the countries listed in the G20 had been shortened in depth. France -9%, India -8%, Italy -9.2%, Mexico -8.5%, UK -10%, Canada -5.5%, Brazil -4.5%.

In Southeast Asia, Vietnam managed to grow in favor of its neighbors, the Malaysian economy -5.8%, Singapore -6%, Thailand -6.6%, and the Philippines -9.6%.

Meanwhile, compared to Muslim countries, they also feel its influence. The Iranian economy cuts 1.5 percent, Qatar 4.5 percent, the United Arab Emirates 6.6 percent, Kuwait 8 percent, and Iraq 12 percent.

In response, Finance Minister Annie called on all ministries and agencies to continue working to preserve and revitalize the Indonesian economy. This can be done through a variety of principles, traditional and legal.

The former World Bank executive director, particularly Sharia-compliant economic policies, has estimated that there are many Islamic economic policies that are in line with economic recovery beliefs. For example, with principles of honesty, integrity, transparency, good governance and more.

“This is an exceptional effort, but we hope there is definitely a way,” he concluded.

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