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SERAMBINEWS.COM – Indonesia is sure to experience an economic recession after Finance Minister Sri Mulyani Indrawati reviewed the projection for economic growth in the third quarter of 2020.
The State Treasurer said that in the third quarter, the Indonesian economy would contract by minus 2.9 percent.
According to him, Indonesia’s economic growth in the third quarter will be in the range of minus 2.9 percent to minus 1.1 percent.
This figure is deeper than the initial projection of minus 2.1% to 0%.
Overall, economic growth through the end of the year will be in the range of minus 1.7 percent to minus 0.6 percent.
Previously, Sri Mulyani’s projection was in the range of minus 1.1 percent to positive 0.2 percent.
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“The Ministry of Finance revised the forecast for September, previously for this year it was from minus 1.1 percent to positive 0.2 percent. The latest forecast for September 2020 is from minus 1.7 percent to minus 0, 6 percent, “Sri Mulyani said at a virtual press conference on KiTa’s state budget, quoted on Kompas.com, on Tuesday (9/22/2020).
With the revised economic growth projection tending to be negative at the end of the year, Sri Mulyani said that in the third and fourth quarters, economic growth will also be negative.
Recently, we often see various countries announce that their countries are experiencing an economic recession.
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