Indonesia's GDP shrinks, first time since 1998

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Indonesia had just celebrated the milestone of moving into the group of upper-middle income countries from its previous lower-middle income status, as its gross national income (GNI) per capita reached $4,050 in 2019, slightly above the $4,046 threshold for the category. AFP
Indonesia’s GDP shrinks, first time since 1998
Tue, 16 February 2021
Indonesia's first annual economic contraction since the 1998 Asian financial crisis may have a long-term impact on the country, pushing back the government’s efforts to escape from the middle-income trap by 2045, a top government official has warned.
The country’s gross domestic product (GDP) shrank by 2.07 per cent year-on-year last year as the Covid-19 pandemic suppressed social and economic activities, Statistics Indonesia (BPS) reported earlier this month.

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