Economic Resilience Maintained
The government has once again revised its economic growth projection for the third quarter of 2020 to a range of minus 1 percent to minus 2.9 percent.
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A visitor chooses eggs at the Hypermart Tanah Abang retail shopping center, Jakarta, on Thursday (9/24/2020).
JAKARTA, KOMPAS — The continued resilience of state-owned enterprises (SOE), stimulus packages for the business world and social safety net programs are believed to have helped prevent Indonesia from falling deeper toward a recession. These aspects are supported by a restructuring program and the distribution of working capital loans.
The government has once again revised its economic growth projection for the third quarter of 2020 to a range of minus 1 percent to minus 2.9 percent. Therefore, Indonesia will definitely go into a recession because economic growth has been in the negative for two consecutive quarters. In the second quarter of 2020, the economy grew by minus 5.32 percent.