Indonesia’s Economy will Rebound, President Jokowi Says
President Joko “Jokowi” Widodo believes Indonesia’s economy will be able to rebound amidst the ongoing global economic crisis as the impact of COVIC-19 pandemic.
COVID-19 has brought massive impact and domino effect to the health, social, and economic sectors. The pandemic has resulted in the economic contraction in many countries, including Indonesia.
“Many countries experienced an economic contraction, or even recession. No country is immune to the pandemic, including our own country,” President Joko “Jokowi” Widodo said in his remarks at the virtual commemoration event of the 56th Anniversary of Golkar Party, Saturday (24/10).
Before the pandemic, Indonesia’s economic growth was at 5 percent. However, the growth dropped to 2.97 percent in the first quarter and -5.32 percent in the second quarter of 2020.
“Comparing to other countries, Indonesia’s economic contraction fared better and I believe we can recover it immediately,” the President said.
He expressed that belief because several strategic indicators have improved during the second quarter of 2020.
“Prices of foods including rice are able to be maintained. Flight occupancy rate in August 2020 also increased by 36 percent compared to the previous month,” he explained.
The President added that Indonesia’s trade balance in September recorded a surplus of US$2.44 billion. Indonesia’s Purchasing Managers’ Index (PMI) also represented an expansion and an increase of consumption.
“It means that there will be more opportunity available to develop business, economic growth will continue to increase, and more jobs will be generated,” he stated. (UN)
Translated by: Rany Anjany
Reviewed by: Lulu Wuliarti