The COVID-19 pandemic is still a frightening specter for Indonesia. Not only threatening health, but because of this pandemic, the country’s economy has been shaken.
If this is the case, not a few people finally choose to take advantage of cash loans in times of crisis. But, is this really the best alternative?
Indonesia’s Economy Paralysed Slowly Due to Corona
It is undeniable that the COVID-19 aka corona pandemic has grabbed the attention of the Indonesian government.
Just imagine, since its appearance in early March, a number of companies, schools, houses of worship, and entertainment venues were closed because at that time the government implemented social distancing rules .
But in fact, because of this, the Indonesian economy is slowly paralyzing. As quoted from the Finance Detik page, retail sales in traditional and modern markets have decreased.
Not only that, but from the same source, global economic growth has also weakened.
Especially export destination countries, such as the United States and the European Union, which will be a big pressure for the value of Indonesia’s exports.
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In this way, the decline in exports will also be accompanied by a decrease in imports.
Apart from exports and imports, Indonesia is also expected to experience a decline in investment interest.
Although investment projects managed by the government and SOEs are still ongoing, in fact they will experience a decline in line with the social distancing rules that apply to workers.
New Normal is a way to restore the country’s economy
Recently, the government announced that it would make a breakthrough to restore Indonesia’s economic activities, namely with the new normal scheme.
This means that all Indonesian people will return to their activities as usual while living side by side with the corona virus.
This of course raises the pros and cons where on the one hand, the new normal scheme is considered a weapon to restore the economy.
But on the other hand, if Indonesia is not ready to face the scheme, the new normal will actually boomerang for the country, triggering the second wave of COVID-19.
So it can be said, this new normal is fine if you want to apply it. However, with a record that the Indonesian people are able to comply with existing health protocols as well as the government. Where should the government be able to make the right decisions and not hesitate.
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Fintech Becomes a Solution in Utilizing Cash Loans in Times of Crisis
Even though the new normal will be implemented later, the community’s economy will certainly not immediately improve just like that.
Therefore, not a few of them finally choose to take advantage of cash loans during this crisis, one of which is by using financial technology services .
Without the need to meet face to face, people can get fresh funds in just a matter of days. Especially now, there have been many fintechs that offer online processes and with easy submission requirements.
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In addition, no less interesting is the interest rate. The average fintech operating in Indonesia offers low interest rates so that it can ease the debtor’s finances when paying in installments.