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Jakarta, CNBC Indonesia – Entrepreneurs do not question the situation in Indonesia, which is confirmed to be entering the phase of economic recession. This is after Finance Minister Sri Mulyani predicted that the economy in the third quarter of 2020 would reach minus 2.9% to minus 1.0%.
The Vice President of the Chamber of Commerce and Industry (Kadin) for Commerce, Benny Soetrisno, assessed that Indonesia is really difficult to escape a recession due to the impact of the Covid-19 pandemic. However, he believes that unlike the conditions in the third quarter of 2020 that are still negative, there will be improvements in the fourth quarter of 2020.
“It would be better if there was a growth of 4%. In the second quarter of -5.32 to grow -1 in the third quarter,” he told CNBC Indonesia, Wednesday (23/9).
Looking at these predictions, the most important thing is to improve economic growth in the fourth quarter. He believes there will be improvements in the future. However, the most important thing is to restore people’s purchasing power first.
“If the fourth quarter there is a growth of 4% again +3. What must be maintained is the purchasing power. If the production side is sufficient, the capacity utilization has not been fully met. Due to power acquisitive not recovered, you can not take all the assets, “he said.
Other entrepreneurs are not overly concerned about the state of a recession either. However, it is precisely what entrepreneurs fear is the Covid-19 pandemic, of which there is no certainty when it will end.
“For entrepreneurs, there must be a concern about a recession, but it is not like in 2008 and 1998, if in the past, the economic fundamentals fell like banking, if now it is strong,” said DPD HIPPI President DKI Jakarta Member of the National Tripartite LKS / Vice Chairman of the Advisory Council of the Chamber of Commerce and Industry of DKI Jakarta. Jakarta Sarman Simanjorang, to CNBC Indonesia, Wednesday (9/23).
He said that if in the third quarter of 2020, when it was announced later, the Indonesian economy would be negative, then in reality the recession process was underway. Sarman emphasized that what entrepreneurs fear most is not about a recession or not, but whether there is any certainty about when this pandemic will end.
“For entrepreneurs, even if we go into recession, they are not too worried, as long as the country immediately controls the spread of the corona virus,” he said.
Sri Mulyani still predicts that Indonesia will enter a recession, with the projected economy in the third quarter of 2020 still negative.
“The Ministry of Finance, which previously saw the economy in the third quarter from minus 1.1% to 0.2% positive, and the last of September 2020 is from minus 2.9% to minus 1.0%. Negative territory in the third quarter will take place in the fourth quarter. “But we are trying to get closer to zero,” Sri Mulyani said at our September state budget press conference on Tuesday (9/22/2020).
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