Asian Development Bank: No Respite from COVID-19 for Indonesia This Year

Due to the significant disruptions caused by COVID-19, Asian Development Bank (ADB), has revised down its economic growth forecast for Indonesia for 2020 to 1.0%, from 2.5% previously projected in April 2020. This estimate is noted as the weakest since the Asian financial crisis more than two decades ago

Winfried Wicklein, ADB’s Country Director for Indonesia, stated that the COVID-19 pandemic had resulted in significant economic disruption in Indonesia (as well as globally), negatively affecting jobs and livelihoods, particularly amongst the more vulnerable sections of the society.

Wicklein added that timely measures implemented under the Government of Indonesia’s econom...