Hi there! How are you? Today, we're going to talk about the surprising fact that the number of bank account owners with a balance above IDR 1 billion is actually increasing during the Covid-19 pandemic.


This situation can be considered as an irony that reflects the national economic orientation that seems to prioritize growth over quality and tends to favor only a few wealthy individuals.


According to the Rector of Widya Mataram University Yogyakarta, Prof. Dr. Edy Suandi Hamid, MEc, the contraction situation that occurred during the pandemic should have made it difficult for many people economically. However, the reality is that account owners with large balances have emerged during this pandemic period.

Not less than 317,772 bank account owners with an IDR 2 billion balance and 110,892 account owners with an IDR 5 billion balance appeared in 2020. Meanwhile, in 2021, there are around 312,385 account owners with an IDR 2 billion balance and 117,198 account owners with a total balance of IDR 5 billion.

We cannot ignore the fact that the Covid-19 pandemic has had many negative impacts on many aspects of life. However, if we look at it from this perspective, there is something quite surprising. Hopefully, we can learn from this situation and create better policies for the benefit of all, not just for the benefit of a few wealthy individuals.

However, this situation also shows an increasingly widening gap between the rich and the poor in Indonesia. Many people still do not have bank accounts and have difficulty fulfilling their daily basic needs. The Gini Ratio of Indonesia has increased from 1964 to 2021, indicating a higher level of expenditure inequality.

According to Prof. Edy Suandi Hamid, the growth of wealthy individuals in Indonesia during the two years of the pandemic is actually higher than the three years of normal periods before. This indicates that the level of inequality in Indonesia is getting worse because the growth of wealth among the rich is much greater than that of the poor.

The root of the problem actually lies in a low-quality growth system pursued by the government. Policymakers still apply growth policies based on old theories, such as the trickle-down effect theory embraced by the New Order. However, this model is no longer effective in addressing social and economic inequalities in Indonesia.

According to Prof. Dr. Nurhayati Rahman MS, the very apparent inequality between the rich and the poor shows an erosion of local values ​​related to humanity and justice. Values ​​such as empathy and solidarity are starting to fade from society, causing many people to suffer.

To overcome this problem, there needs to be a reorientation in development that focuses on the majority's interests, namely the grassroots economy. Hopefully, policymakers can change their policies and improve the economic situation in Indonesia to become more fair and equitable for all people.


Original Source: original source: https://lldikti5.kemdikbud.go.id/home/detailpost/masa-pandemi-melahirkan-ribuan-pemilik-rekening-gendut#