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Jokowi: Indonesian Economy Overcame Lowest Point, Rebound Imminent

December 3, 2020, 06.57 PM

JAKARTA, – The Indonesian economy is on track for recovery from the coronavirus pandemic, according to President Joko ‘Jokowi’ Widodo.

The Indonesian President said that there are several indicators that point to a green-zone economic performance as a result of the government’s hard work in mitigating the coronavirus pandemic over the past nine months.

The central government has strived for a balance in suppressing nationwide Covid-19 cases without putting too much pressure on the national economy.

Read also: Indonesia Needs GDP Growth of 8 Percent to Become Developed Economy, Says Minister

“The positive signals for our economy have become increasingly clear. Our hard work is starting to bear results.”

The Indonesian economy is on a rebound as evidenced by its economic performance during the third quarter of 2020 which, despite seeing a contraction, saw an improvement compared to the previous quarter.

The economy in the third quarter of this year was at a minus 3.49 percent while in the second quarter, it reached minus 5.32 percent.

Read also: Indonesian Economy Could Rebound to 6% in 2021 Under Certain Conditions

“This means that our economy has passed its lowest point and is now headed for a rebound."

"There are growing positive trends and with this momentum, I am confident that the economy will be in the green zone in the fourth quarter and so on.”

Another indicator highlighted by the Indonesian President is the country’s trade surplus of $8 billion in Q3 of 2020 in addition to the stronger exchange value of the Indonesian Rupiah on the IDX Composite.

(Writer: Mutia Fauzia | Editor: Erlangga Djumena)


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