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Analyzing Recession
Even without the revision down, Indonesia has technically entered a recession because it has suffered economic contraction for two consecutive quarters.
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Ari Kuncoro
The government has lowered its economic growth target for the third quarter of 2020 to minus 2.9 percent from its earlier projection of minus 2.1 percent. Even without the revision down, Indonesia has technically entered a recession because it has suffered economic contraction for two consecutive quarters.
Several countries have imposed strict regional quarantines on the hope of achieving fast recovery in a V-shaped curve. In fact, following first-quarter negative growth, even deeper contraction occurred in the second quarter of 2020.