Selangor Journal
General view of a construction site during the dusk in Jakarta, Indonesia, July 18, 2019. — Picture by REUTERS

Indonesian 2020 GDP seen flat or contracting slightly below zero per cent

JAKARTA, July 24 — Indonesia’s finance ministry revised its outlook for 2020 gross domestic product (GDP), now expecting flat economic growth or a contraction of slightly below 0 per cent, Febrio Kacaribu, the head of its fiscal policy office, told an online seminar on Friday.

The ministry’s previous outlook was a change in 2020 GDP of between -0.4 per cent to 1 per cent compared with the size of the economy in 2019.

Kacaribu said authorities are working to avoid two straight quarters of GDP contraction in the second and third quarters and are hoping for a fourth quarter GDP expansion of 2 per cent-3 per cent.

— Reuters

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