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Jakarta Post

Options for the economy amid pandemic

  • Kiki Verico

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PREMIUM
Jakarta   /   Wed, September 9, 2020   /  09:50 am
Options for the economy amid pandemic Field work: Farmers use tractors to plow rice fields in Belanti village in the Central Kalimantan regency of Pujang Pisau, which the government has designed as a food estate, on Sept. 4. Agriculture is one of few sectors that has grown amid the COVID-19 pandemic. (Antara/Makna Zaezar)

In the Global Economic Prospects published in June, the World Bank estimates that the world economy will be shrinking by 5.2 percent. In the second quarter of 2020, the global economy entered a negative growth zone, with China and Vietnam reporting positive growth. China booked positive economic growth in the second quarter after negative growth in the first quarter of 2020, meaning an escape from recession. In this second quarter, Indonesia also experienced negative economic growth, but together with South Korea, Indonesia’s economic growth was slightly better than others. Every country, including Indonesia, is now struggling to prevent an economic contraction for this year. Negative economic growth with a lower inflation rate in the second quarter compared to the first one indicates that aggregate demand in Indonesia has decreased more than the aggregate supply. Data from S...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.