The COVID-19 Pandemic Makes 'Bankrupt', Faisal Basri: There Are Certain Groups Who Want To Exterminate State-Owned Resources

Indef's senior economist, Faisal Basri. (Photo: Doc. Antara)

JAKARTA - The COVID-19 pandemic, which has been around for almost two years, has hit the business world hard. Almost all sectors are battered by the pandemic.

Indonesia must also spend extra funds to get out of this crisis. Of course, this condition makes the state budget (APBN) experience a fairly deep deficit.

Because of these conditions, the threat of government bankruptcy is already in sight. University of Indonesia (UI) senior economist Faisal Basri said in the current COVID-19 pandemic, only countries involved in the world supply chain were able to escape the threat of bankruptcy.

"So the countries that survive are countries that rely on intra-industrial trade which is part of the global supply chain," he said in a virtual discussion, Wednesday, October 13.

According to Faisal, the business world is able to survive the threat of bankruptcy. Because every economic crisis that occurs will provide new opportunities for several businesses to develop rapidly.

The COVID-19 pandemic has not only changed people's lives, but has also changed business and work behavior. According to Faisal, with changes in business behavior, the circulation of money will continue to occur if it is able to adapt quickly.

Even so, said Faisal, the conditions will be different from countries that tend to take a long time to adapt. Meanwhile, his financial condition is getting depleted.

"I see it is also like that in the international world, this world is indeed changing, it has changed, plus the pandemic of change is increasingly widespread and deep. I am also sure that the business world already knows and has anticipated it. What has not been the government," he said.

Faisal said, the condition will be worsened by the existence of economic control by certain groups within a country. Usually they will finish off all the resources owned by the country so that the economic growth is uneven.

"A crisis besides being a threat, is also an opportunity for all of us to do something new in a different way to produce something better. But the climate must be democratic, otherwise the oligarchy will take all (resources)," he said.