Indonesia’s 2020 Gross Domestic Product Estimate Revised Down Further: Finance Ministry

Indonesia’s Finance Minister, Sri Mulyani Indrawati, stated that the Finance Ministry has revised down the country’s gross domestic product (GDP) forecast in September 2020, to a range of –1.7% to -0.6%, from a previous estimated range of -1.1% to 0.2%. In the statement made on the 22nd of September 2020, Indrawati noted that the Ministry would take every effort to improve the situation in the fourth quarter of 2020 (4Q 2020), forecasting the GDP to come in at closer to zero percent or positive.

Government consumption is anticipated to grow robustly between 9.8% and 17.0% in 3Q 2020, given the heightened use of budget funding, said Indrawati, with the full-year estimate at a range of 0.6% to 4.8% for 2...