Macroeconomics Analysis Series: Indonesia Economic Outlook, Q2-2021

The Covid-19 pandemic is a crisis like never before. In economic sense, the current crisis is not originated from any economic aspects like credit crunch, banking sector collapse, or sovereign debt overhang. Thus, we are facing a crisis that has never been explained in any economic textbooks and it leaves almost everyone’s clueless. After more than a year living in a pseudo-dystopic world, we have seen enough calamity to the point extraordinary policy measures and practices to weather the crises is a norm. Excessive sovereign debt accumulation, central banks step-in to fund fiscal policies, and the quickest vaccine development in human history has taken place just to save the population from mounting death counts and help the poorest meet their subsistence.

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