Indonesia’s Economy Faces Uphill Battle to Avert Recession: Finance Minister

Indonesia’s economic recovery has been deemed ‘very fragile’ and could experience a reversal, according to the country’s Minister of Finance, Sri Mulyani Indrawati, who issued a warning that the economy faced an uphill battle to avoid a recession.

Indrawani backed her views by stating that although revenues had temporarily increased in June 2020 following the easing of COVID-19 restrictions, the improvement had remained stagnant in July, with sectors such as trade, construction and mining showing declines in contribution.

Indrawati anticipates Indonesia’s gross domestic product (GDP) of the third quarter of the year (3Q 2020) to be within a range of -2...