KOMPAS.com – Indonesia’s economic growth has contracted 0.74 percent in the first quarter of 2021. The Southeast Asia country saw negative growth for the four straight quarters.
Elsewhere, Indonesia's President Joko Widodo has instructed all relevant agencies, including the military and police members to monitor the returning migrant workers to their respective homes to curb the spread of Covid-19 upon arrival.
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Indonesia’s Economy Shrinks 0.74 Percent in Q1
Indonesia’s economic growth has contracted 0.74 percent in the first quarter of 2021, experiencing negative growth for four consecutive quarters, the country’s central statistics agency (BPS) revealed on Wednesday, May 5.
Head of BPS Suhariyanto said the economic contraction in the first quarter of this year was less severe than before when Indonesia saw its gross domestic product (GDP) contract 2.9 percent in the previous quarters.
“This shows signs of economic recovery will become even more apparent. We hope that economic recovery in 2021 can come true,” Suhariyanto said in a virtual news conference.
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Suhariyanto said that the Indonesian economy in the first quarter was valued at 3,969 trillion rupiahs ($274.8 billion) based on current prices, while the GDP at constant prices of 2010 was at 2,683 trillion rupiahs ($185.8 billion). Based on the expenditure on an annual basis (year on year), all components have contracted, including household consumption - the economy’s main growth engine - showed the deepest decline.