APINDO said that it will continue to assess the development of the Covid-19 epidemic and mitigation efforts as well as its contribution to the realization of national economic recovery efforts in 2021.
As for 2020, APINDO expects the national economy to contract between 1.45 percent and 2.8 percent.
Hariyadi said that the coronavirus pandemic has altered this year’s economic growth forecasts, as it was battered by the pandemic beginning in the first half. It shrank 5.32 percent in the second quarter coming from a growth of 2.97 percent in the first quarter of 2020.
The nation's economic performance continued to dip in the third quarter with a 3.49 percent contraction, and Indonesia’s business community expects that the economy will likely remain in the red in the final quarter.
“The results lead us to predict that economic growth in Indonesia this year will most likely be in the negative territory.”
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