Indonesia sees deeper contraction for 2020 than earlier forecast

Economic activity has improved since coronavirus curbs were eased in June, but the recovery has been flattening.
Economic activity has improved since coronavirus curbs were eased in June, but the recovery has been flattening.PHOTO: REUTERS

JAKARTA (REUTERS) - Indonesia's government has revised down its 2020 gross domestic product (GDP) outlook to a range of -1.7 per cent to -0.6 per cent, from a previous range of -1.1 per cent to growth of 0.2 per cent, the finance minister told an online conference on Tuesday (Sept 22).

Sri Mulyani Indrawati also revised down the third quarter GDP forecast to a range of -2.9 per cent to -1.0 per cent, from -2.1 per cent to 0 per cent previously.

Economic activity has improved since coronavirus curbs were eased in June, but the recovery was flattening, she added.