Weakening Economy, Increased Poverty Due to Covid-19

Economics & Macro

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Dwi Hadya Jayani 29/04/2020 10:13 WIB

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In a worst-case scenario, the poverty rate would increase to 12.37%.

Indonesia's Poverty Rate Projection 2020

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Weakening Economy, Increased Poverty Due to Covid-19

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Indonesia's Poverty Rate Projection 2020

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The spread of the coronavirus (Covid-19) has infected millions worldwide. This pandemic has also impacted economic performance and has the potential to cause a global recession. The SMERU Research Institute, in its report titled “*The Impact of Covid-19 Outbreak on Poverty: An Estimation for Indonesia*,” shows that the economic weakening caused by Covid-19 has resulted in an increase in the number of impoverished people in Indonesia.

In the worst-case scenario, if the economy grows by only 1%, Indonesia's poverty rate would reach 12.37%. This is an increase from 2019, which had a single-digit poverty rate of 9.22%. The report explains that Indonesia's progress in reducing poverty over the past decade would be wiped out. Therefore, the government needs to expand its social protection programs to protect the growing number of impoverished people.

Editor : Safrezi Fitra

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."