Deflation Amid Threat of Recession
The threat of an economic recession in Indonesia is not without its foundational reasons. Amid the threat of recession, deflation was also recorded in July.
Office workers wearing face masks enter a building during lunch time in the financial business district in Singapore on August 11, 2020. - Singapore\'s virus-hammered economy shrank almost 43 percent in the second quarter, in a sign that the country\'s first recession in more than a decade was deeper than initially estimated, official data showed on August 11.
The threat of an economic recession in Indonesia is not without its foundational reasons. Amid the threat of recession, deflation was also recorded in July.
The threat of recession emerged after Statistics Indonesia (BPS) released an economic growth figure for the first six months of 2020, which contracted by 5.32 percent year-on-year (yoy). This is the first economic contraction since the economic crisis in 1998.