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Jakarta, CNBC Indonesia – President Joko Widodo (Jokowi) estimates that Indonesia’s gross domestic product (GDP) in the third quarter of 2020 will once again register less. The recession is coming.
Speaking in front of the ranks of ministers at a cabinet plenary meeting, Jokowi said that economic growth in the third quarter of 2020 will be around minus 3%, better than realizing growth in the second quarter of 2020 minus 5.32 %.
“Our estimate is minus 3%, a slight increase,” Jokowi said at the State Palace, the Presidential Palace complex, Jakarta on Monday (11/2/2020).
According to reports received by the head of state, the components of household consumption and investment have become the “culprits” of the slowdown in economic growth. Household consumption was recorded at minus 4%, while investment even fell to minus 6%.
“We will wait for the BPS calculations. Maybe minus 6. I have warned the Head of BKPM (Bahlil Lahadalia) and the Coordinating Minister of Marimves (Luhut Binsar Pandjaitan) at least the third quarter is below minus 5%, but it turns out not has been able, “he said. Jokowi.
The former governor of DKI Jakarta called on ministers not to remain silent in the face of current conditions. The head of state wants a similar problem not to happen again in the fourth quarter of this year.
“For this to be pursued again in the fourth quarter and in the first [2021] January, February, March have moved again ”, he explained.
[Gambas:Video CNBC]
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