Minister of Finance period 2013-2014 Chatib Basri presented the projection of Indonesia's economy in 2021. The projection was presented by Chatib in the University of Indonesia Trustee Assembly webinar "Covid-19 and Acceleration of Economic Recovery 2021: Expectations, Challenges, and Policy Strategies" which aired on university of Indonesia Youtube channel, Wednesday (1/27/2021).

"We have passed the worst situation in the second quarter of 2020 when economic growth was minus 5.3%. In the third quarter, it has improved to minus 3.5%, probably still going negative in the fourth quarter. But if this trend continues I see that there is a possibility that we will record that positive growth in the first quarter of 2021,’’ he said.

"So the economic recovery from GDP will be like a swhoosh shape, this is the epitome of NIKE. So the worst of it has happened in the second quarter of 2020. That's why I'm quite optimistic.

However, he said swoosh shape can only be formed if the Covid-19 pandemic does not spread again.

"If the pandemic spreads again, then our recovery will not be in the form of swoosh shape or NIKE logo, but in the form of the letter W or whisky where the worst occurred in the second quarter of 2020, improving, but then if the pandemic spreads, it will go down again," Chatib said.

"That's why I say the handling of the Covid-19 pandemic is key. Health is key, without the recovery of economic health we will not be able to recover.

The President Commissioner of Bank Mandiri said that the government's fiscal stimulus, especially social assistance, was successful because it succeeded in lifting household consumption growth. Consequently, as of the third quarter of 2020, indonesia's economy experienced a smaller contraction.

Chatib also mentioned two sectors that will survive in the midst of the Covid-19 pandemic.

"Which sectors will survive in the midst of this condition. One, health. Second, sectors that are able to transform into digital," he said.

Chatib then remembered the moment of the 1998 crisis. At that time, the artists had to sell food through tent stalls.

"Now the same thing is happening, but it is not possible with tent stalls, all it does is sell food through Instagram, via Facebook. Just look at the mothers now almost everything in it is a kitchen of sorts where they can survive," chatib said.