The New Normal is expected can gradually resolve the fundamental challenges in Indonesia.
Millions of Americans are relying on unemployment benefits for their livelihoods after losing their jobs to the coronavirus crisis. Another 3 million people filed initial unemployment claims last week on a seasonally adjusted basis, according to the Department of Labor. That brings the total number of first-time claimants to 36.5 million since mid-March. That represents 22.4% of the March labor force. America’s labor force shrank in April, as the crisis worsened.
In the presentation of the Macroeconomic Framework and Fiscal Policy Highlights in 2021 (KEM-PPKF) it is hoped that it becomes the momentum of transition to normal after the COVID-19 pandemic and can gradually resolve the fundamental challenges in Indonesia. The direction of the state expenditure policy of 2021 is as follows: Improving the quality of health, social safety nets, the business, and MSMEs. In addition, state expenditure is also focused on budget reforms, sharpening goods expenditures, strengthening capital expenditure and maintaining it for BMN, capital expenditure to support projects that are delayed by 2020 and accommodating new initiative policies and priority activities in 2021, and increasing the effectiveness of social recovery programs.
Source: Danareksa Sekuritas Debt Research