It (the coronavirus outbreak) is more complicated because it is related to humans. They must first shield themselves against the so-called threat or risk to their safety, and health that may endanger their lives.
Jakarta (ANTARA) - The coronavirus outbreak has a more complex impact on the global economy than the 2008 global economic pressure fueled by US investment bank Lehman Brothers’ bankruptcy, Indonesian Finance Minister Sri Mulyani Indrawati stated.

The coronavirus (Covid-19) outbreak has put direct pressure on individuals and not through the financial sector as in 2008, the minister noted at the Presidential Palace compounds, here on Thursday.

The direct pressure on individuals has disrupted economic and other activities of the community, including the closure of schools and factories, thereby resulting in a delay in the realization of public activities, including production, she stated.

"It (the coronavirus outbreak) is more complicated since it is related to humans. They must first shield themselves against the so-called threat or risk to their safety and health that may endanger their lives," the minister remarked.

The 2008 global economic pressure only had a short-term impact due to transmission to the financial industry. The 2008 crisis, resulting from the bankruptcy of Lehman Brothers, had a subsequent impact such as layoff and corporation closure, Indrawati stated.

"However, it (coronavirus) has a direct impact on patients, so it is of a deeper nature than (the 2008 global economic pressure) since the patients can suddenly become semi-paralyzed," she cautioned.

The short-term impact of the 2008 global economic pressure only touched financial service institutes, while the coronavirus outbreak has a real impact on public activities, including the economy, she added.

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Translator: Indra Arief P/Suharto
Editor: Fardah Assegaf
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