Economic Observer: The G20 Meeting Must Have A Positive Impact On Indonesia

Economic Observer at the Nitro Makassar College of Management Sciences (STIM) Dr Rosnaini/Photo: Antara

MAKASSAR - Economic Observer of the Nitro Makassar College of Management Sciences (STIM) Dr Rosnaini Daga said the implementation of the Group of Twenty (G20) Presidency to be implemented in Indonesia must have a positive impact on the nation and all elements of its people.

"COVID-19, which since 2020 has caused the economies of the nations to experience a slowdown and even contraction. At the community level, not a few businessmen have gone bankrupt because there is no economic turnaround," he said in Makassar, Friday, May 20.

Dr Rosnaini Daga, who is also the Postgraduate Director of STIM Nitro Makassar, said that the moment of the G20 Presidency which will be held in Bali in November 2022 will also discuss several strategic plans.

She stated, in accordance with the purpose of establishing the G20 in 1999 at the initiation of the G7 group, this multilateral forum was formed in response to several world economic crises. The finance ministers and central bank governors involved at that time only focused on how to find solutions to the crisis or issues surrounding global fiscal and monetary policy.

According to her, the COVID-19 pandemic that attacks the world community in almost all countries certainly has a major influence on the movement of the global economy.

"The G20 meeting is expected to be able to realize strong, sustainable, balanced and inclusive global growth. In accordance with the initial goal of the G20 being formed," she said, quoted by Antara.

In relation to the momentum of the National Awakening Day (Harkitnas), several policies and agreements are expected to emerge from the G20 Presidency meeting.

According to her, the nation's economic crisis has occurred several times and in 1998, the monetary crisis was able to be overcome by strengthening the economy at the lower levels.

In this day and age, she said, information technology (IT) has become an inseparable part of society, especially for millennials or generation z.

"We can learn that during the 1998 crisis, the country and its people were able to get through it by strengthening the economy at the lower levels. Especially in this day and age where with just one touch on our smartphone, anything can be done. Economic digitization has become part of people's lives, this will certainly accelerate our economic recovery," she said.

On a micro scale, within the campus, some of the students are able to adapt to these changes and maximize information technology to reap huge benefits in improving the economic life of their families.

In addition, financial inclusion and literacy as well as policies in strengthening the community's economy are also needed to bring about changes in the community's economic independence.