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Government positive economic recovery on horizon
21st May 2021 4 hours ago
Indonesia s economy is getting back on track. ANTARA FOTO/Hafidz Mubarak A/rwa. The Indonesian government is optimistic the economy will grow positively this year with indications of an improvement emerging amid the pandemic and containment measures, which have plunged the global economy into a deep contraction.
After Indonesia recorded its first coronavirus cases in March, 2020, economic growth spiraled to minus 5.32 percent in the second quarter to reach minus 3.49 percent in the third quarter and minus 2.19 percent in the fourth quarter of last year. Overall, the Indonesian economy shrunk 2.07 percent year-on-year (yoy) in 2020, a figure that is considered better than several other countries.
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