JAKARTA, Aug 5 — Indonesia’s coronavirus-hit economy contracted in the second quarter for the first time in more than two decades, with warnings that its recovery could be among the weakest in South-east Asia. Output in the region’s biggest economy slumped 5.3 per cent on-year in April-June,...
Wednesday, 05 Aug 2020 04:06 PM MYT
Output in the region’s biggest economy slumped 5.3 per cent on-year in April-June, the statistics agency said today, as retail sales and manufacturing took a hit. “A failure to contain the virus effectively and inadequate policy support means the recovery is likely to be one of the slowest in the region.”
Indonesia has announced a stimulus package worth more than US$48 billion to help offset the impact of the virus, which forced a large-scale shutdown that hammered growth, including in the key tourism sector.
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