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Corona effect

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Corona effect

Corona The spread of the corona virus in Indonesia is increasing. As we know, the first case of a patient infected with the corona virus, namely two people came from Depok on 2 March 2020. And currently, more than 8000 people are infected with the corona virus and more than 700 of them died. This virus is very bad for the citizens and also the country. In addition to health, this virus also has economic and business effects. many companies suffer losses. Governor of Bank Indonesia (BI) Perry Warjiyo calculated the total loss from loose foreign capital flows of Rp.40.16 trillion from the capital market and government bonds. Perry details the net outflow of government bonds amounting to Rp31.76 trillion, while of shares of Rp4.87 trillion mainly occurred on February and March 2020 after the corona virus spread outside China.[unique_solution] This also makes the rupiah exchange rate against the dollar also fluctuate. according to Bloomberg, year to date rupiah movements have decreased to minus 4.34 percent. this is even worse when PSBB is implemented. DKI Jakarta government policy stated in governor regulation no. 33 of 2020 requires companies to implement WFH (work from home). WFH has made the Company’s productivity dropped dramatically. Not all companies are suitable to apply WFH, so 76 companies are now temporarily closed by the government because they do not pay attention to the regulation. unemployment is now increasing. some companies have temporarily stopped their employees, fired their employees massively, and even many companies went bankrupt. shop and culinary business owners must also close their stores. they all now wonder where to get income. while they are forbidden to leave the house. Now some of them only rely on pre-employment programs and food aid from the government.

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