The end of the economic year is predicted to be minus 1.1%, Indonesia is preparing for a recession
WORDBND.COM - Worldnews. The economic recession is increasingly visible, Coordinating Minister (Menko) for the Economy Airlangga Hartarto estimates that Indonesia's economy will remain minus and even minus 1 percent until the fourth quarter of 2020.
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Airlangga emphasized that with the remaining two quarters in 2020, the Indonesian economy will automatically enter a recession. This is in line with the impact of the Covid-19 pandemic which disrupted economic activity.
"In the second quarter we know we contracted minus 5.32 percent and also compared to various countries, our contraction was not too deep," said Airlangga during a KUR distribution event for MSME digital platform partners as quoted by iNews, Wednesday (23/9/2020) .
According to Airlangga, the national economy until the end of 2020 will be minus in the range of 1.1 percent to 0.2 percent. "The government sees that the trend in the second and third quarter will certainly determine the fourth quarter, and the range of growth estimated in the third quarter starts from minus 3 to minus 1 percent," he said.
However, Airlangga hopes that the economy will start to grow in 2021. "Various institutions have seen that the Indonesian economy will advance in a positive direction of 4.5-5.5 percent in 2021," he added.
This belief was expressed by Airlangga, it can be seen from the handling of Covid-19 in the health sector starting to show good results. For example, on the patient's cure rate ratio.