BI Confident That Indonesia’s Economy Will Continue to Grow Through 2020

Bank Indonesia (BI) is optimistic that Indonesia's economy will continue to improve in the second quarter of 2020 despite the country reporting Gross Domestic Product (GDP) growth of 2.97% in the first quarter, the lowest in two decades. BI Governor, Perry Warjiyo stated that, with the right government policies and stimulus measures, he was optimistic that Indonesia would report a positive 0.2-0.4% GDP growth in the current quarter (April-June 2020).

Warjiyo added that BI predicts Indonesia’s GDP to grow at 1.2% in the July-September 2020 quarter and at 3.1% in the last quarter of 2020, based on the assumption that the peak of the COVID-19 pandemic in Indonesia would last from April to mid-June, while social restri...