The figure is weaker than the government and Bank Indonesia’s projections of approximately 4 percent.
Short-term forecasts
The OECD predicts improved economic conditions in which the Indonesian economy could grow around 2.8 to 5.2 percent in 2021.
The World Bank expects the Indonesian economy to grow by 4.8 percent.
According to the OECD, the second quarter will witness a steep economic contraction in line with rising unemployment.
The Indonesian economy is expected to rebound during the third quarter.
The Indonesian government has undertaken measures to mitigate the Coronavirus pandemic while also working to boost consumer confidence. (Writer: Mutia Fauzia | Editor: Sakina Rakhma Diah Setiawan)
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