Indonesia’s economy forecast to contract 3.8 percent in Q2
Indonesia's economic growth in the second quarter of 2020 was projected to stay at the level of minus 3.8 percent or in the range between minus 3.5 percent and minus 5.1 percent due to the COVID-19 pandemic, Indonesian Finance Minister Sri Mulyani Indrawati has said.
People are seen wearing protective face masks at a Sudirman train station amid the coronavirus disease outbreak in Jakarta, Indonesia (Photo: Reuters)
Hanoi (VNA) - Indonesia's economꦑic growth in the second quarter of 2020 wasprojected to stay at the level of minus 3.8 percent or in the range betweenminus 3.5 percent and minus 5.1 percent due to the COVID-19 pandemic,Indonesian Fina༺nce Minister Sri Mulyani Indrawati has said.
The national economic growth inthe first quarter, which was only able to reach 2.97 percent, was considered asa drastic drop, the minister said at a working meeting with the House ofRepresentatives on July 9. Indonesia’seconomic growth is likely to be in the range of minus 1.1 percent and minus 0.4percent in the first half of 2020, the minister said. Thegovernment is stepping measures with the hope that the national economy willrecover with growth of between minus 1 percent and 1.2 percent in the thirdquarter and between 1.6-3.2 percent in the last quarter of the year, sheadded./.
Various regulations have hindered Indonesia’s automobile manufacturing and the country’s car exports are still lagging behind its neighbours like Thailand, General Secretary of the Indonesian Automotive Industries Association (Gaikindo) Kukuh Kumara said.
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People are seen wearing protective face masks at a Sudirman train station amid the coronavirus disease outbreak in Jakarta, Indonesia (Photo: Reuters) 
