Pandemic and State Debt Settlement Scenarios

rudiatin, endang (2020) Pandemic and State Debt Settlement Scenarios. BASKARA, 4 (1). pp. 1-10. ISSN 2623-0089

Text 10489-27716-4-PB.pdf Download (324kB)

Abstract

Many countries are experiencing increased debt as a result of the COVID-19 pandemic. They assume that it will be dealt with when the economy returns to normal. But the pandemic is still ongoing even though it has passed a year and a half. The emergence of new variants of the Coronavirus has forced the re-imposition of even stricter restrictions. The direct result is a budget deficit, as state revenues fall while spending increases. The longer the reduction in human movement lasts, the larger the deficit will be, so it is still very possible for additional new debt to occur. This study presents various possibilities that a country can do to pay off debts that are difficult to repay, based on the experiences of several countries that have experienced it in the past. It is also a possible breakthrough alternative, despite facing complex domestic political challenges. The option is grounded in phenomenological research in virtual communities through the internet on the phenomenon of pandemics and state debt. The results show a common reaction by the State in overcoming the economic crisis, namely, increasing tax rates, reducing salaries and facilities for employees or officials, selling (shares) of State-Owned Enterprises (BUMN). And then the unpopular alternative offers such as leasing certain islands or areas to a foreign part, and other breakthroughs

Item Type:	Article
Subjects:	H Social Sciences > H Social Sciences (General)
Divisions:	Faculty of Social and Political Sciences > S1 Social Welfare Science / Ilmu Kesejahteraan Sosial
Depositing User:	Dr Endang Rudiatin
Date Deposited:	08 Nov 2021 04:42
Last Modified:	08 Nov 2021 04:42
URI:	http://repository.umj.ac.id/id/eprint/6885

Actions (login required)

View Item