President Joko “Jokowi” Widodo stated that Indonesia surpassed the nadir of economic growth within the second quarter of 2020 and is subsequently now entering the economic recovery phase.
He said many national macroeconomic indicators showed positive growth, reminiscent of a rise within the import rate of raw materials and capital goods to support the performance of the manufacturing industry.
Indonesia’s trade balance, which is taken into account to support the economy’s resilience to external shocks, also posted a surplus of $8 billion within the third quarter.
President Jokowi, speaking on the 2020 annual meeting of Bank Indonesia (PTBI) in Jakarta, said the state’s economy contracted within the second and third quarters by 5.32% and three.49%, respectively.
“This means that it has already passed the lowest point, it is a turning point towards a positive trend,” Jokowi said.
It assumes that investor confidence in financial markets will proceed to grow, as seen by the gains within the performance of the Jakarta Composite Index (JCI) and the rupiah currency in recent weeks.
Jokowi stressed that positive economic momentum must proceed as a public health priority in the course of the Covid-19 pandemic. “We must remain vigilant, not careless and be disciplined in implementing the health protocol to avoid a second wave that will undo our efforts and sacrifices,” he noted.
Source: Tempo.co
