Fitch Solutions slashes Indonesia’s economic growth projection due to pandemic

first_imgFitch Solutions has downgraded Indonesia’s economic growth projection to 2.8 percent, down from its initial projection of 4.2 percent, as consumption and investment growth are expected to slow amid weakening global economic expansion during the COVID-19 pandemic.“While the government and the central bank have made aggressive moves to stimulate the economy, we believe that these efforts will not be enough to offset the devastating effects the COVID-19 pandemic will have on employment and public health,” researchers at the Fitch Solutions country risk and industry research wrote in a research note dated April 17.They projected Indonesia’s private consumption to slow to 1.2 percent in 2020 from 5 percent in 2019 due to mounting unemployment. As many as 2.8 million people have lost their jobs as of Monday last week, according to data from the Manpower Ministry and the Workers Social Security Agency (BPJS Ketenagakerjaan). More than half were furloughed and placed on paid or unpaid leave.“We also expect capital formation to slow to just 1.5 percent in 2020 after posting a growth of 4.5 percent in 2019,” Fitch said, adding that this would mainly be driven by severe delays that large scale infrastructure projects were likely to face amid the crisis.The government expects the country’s economy to grow 2.3 percent this year, which would be the lowest rate in 21 years, in a baseline scenario and even contract 0.4 percent in the worst-case scenario.The International Monetary Fund (IMF) in its latest projection expected Indonesia’s gross domestic product (GDP) growth to reach 0.5 percent this year while the global economy was projected to contract by 3 percent.Topics :last_img read more

School of Pharmacy adds new degree

first_imgPhoto from USC School of Pharmacy websiteThe USC School of Pharmacy launched a new bachelor’s of science degree in pharmacology and drug development starting this semester.The major primarily focuses on clinical pharmacology and will teach students about the basic receptor targets in the human body, how pharmaceutical drugs act on those targets and how one should think about a patient.The major was developed by Daryl Davies, a professor at the School of Pharmacy, and will make USC one of only five universities nationwide to offer an undergraduate program in pharmacology.Davies says that although many students are thoroughly prepared in the fields of biology, chemistry and biochemistry, they do not understand how to utilize all of these sciences when considering a patient.“We didn’t have a solid major that trained students how drugs worked in the body, why we need prescription drugs, why a particular dose works well in one person, but not well in another, why we have side effects and why is it that thousands of people die every year from drug-drug interactions and improperly prescribed drugs,” Davies said.The pharmacology degree intends to arm its students with the necessary skills for a future in their desired field.“The new major is designed to prepare USC undergraduates for advanced clinical training in health-related fields including pharmacy, medicine and dentistry,” said Michele Keller, the director of communications for the School of Pharmacy, in an e-mail to the Daily Trojan. “It will also lead to new opportunities for students who are considering careers in the biotech and pharmaceutical industries.”Some undergraduates students have already taken the opportunity to switch into the new major. Annie Xie, a sophomore who recently switched into the pharmacology program from biology, believes that the program is suitable for students with a wide variety of aspirations.“I think USC students might be interested to know that the pharmacology and drug development major is not exclusive to pre-pharmacy students,” Xie said. “I think that all future clinicians — doctors, nurses, dentists and pharmacists — could benefit from the classes offered in this major.”After graduation, Xie hopes to pursue a doctorate in pharmacy at USC, and she believes her major will thoroughly prepare her for the next step in her career.The new program also offers a number of new courses designed specifically for non-science majors, such as “Pharmacology and Sociology of Drug Abuse” and “21st Century Medical Issues and the Law.”last_img read more