JAKARTA - How Indonesia handle COVID-19 will be key for economic growth in the third quarter of 2020, after the contraction experienced in the second quarter of 2020. This was stated by Minister of Finance Sri Mulyani Indrawati in a press statement on Tuesday (28/7).
According to the Minister of Finance, an economic recession occurs when a country experiences an economic contraction for two quarters in a row. In Indonesia, he continued, the government projected that economic growth in the second quarter of 2020 to be negative 4.3%.
She said thaf if the handling of the COVID-19 pandemic was effective, the economy would recover in the third quarter with a growth of 0.4%, and it will be even better in the fourth quarter.
At present, Singapore and South Korea have overcome economic recession after experiencing economic contraction in the first and second quarter of this year. (LK/AR)