Recovering from Slowdown

KOMPAS/P RADITYA MAHENDRA YASA

Farmers work on rice fields with a solar pump irrigation source in Krincing Village, Secang District, Magelang Regency, Central Java, Monday (7/9/2020). Utilizing this alternative energy has a real economic impact on farmers.

The Indonesian economy is very likely to enter a recession in the third quarter of 2020. We need to find the right and quick way to recover.

Finance Minister Sri Mulyani Indrawati told reporters on Monday that the country’s economic growth prediction had been revised to a range between minus 1 and 2.9 percent in the third quarter, this year. If the prediction is accurate, Indonesia will officially fall into a recession because the economy already suffered a contraction of 5.32 percent in the second quarter, the deepest decline since the 17.9 percent contraction in the third quarter of 1998.