Finance Minister: Indonesia Q2 GDP seen shrinking by 3.1%

ECONOMIC GROWTH - JAKARTA. Indonesia's gross domestic product (GDP) is likely to shrink by 3.1% on-year in the second quarter due to weak economic activity amid movement curbs to control the spread of the coronavirus, Finance Minister Sri Mulyani Indrawati said on Tuesday (16/6).

Indrawati said in an online briefing the economy may recover in the following quarter, but may still record a contraction, while positive GDP growth may return in the final quarter of 2020.

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Her baseline outlook for 2020 GDP growth remained between -0.4% to 2.3%, but she said growth looked more likely to be within a range of 0% to 1%.

A document she presented in the briefing showed a projection of 8.2% GDP growth in 2021.