Search An artisan makes ornamental dowry from colored papers in Malang, East Java, on Saturday. (Antara Photo/Ari Bowo Sucipto) Gov t Plots Rebound After Covid-19 Sends Indonesia Into First Recession in 22 Years BY :NASORI, ARNOLDUS KRISTIANUS, TRIYAN PANGASTUTI FEBRUARY 06, 2021
Jakarta. The government is confident Indonesia s economy would return to an expansion mode in the first quarter this year, banking on the government spending increase, manufacturing growth, and exports, after a persistent rise of the Covid-19 cases prevent the country from escaping its first recession in 22 years last year.
The Central Statistics Agency (BPS) announced on Friday that Indonesia s economy shrunk by 2.07 percent in 2020, compared to a 5 percent expansion in 2019. The largest economy in Southeast Asia declined by 2.2 percent in the fourth quarter from the same quarter a year earlier.