Indonesia’s economy is on track for a significant contraction this year as the coronavirus crisis has hit the global economy more severely than previously expected, the International Monetary Fund (IMF) has forecast.
The United States-based institution projects that Southeast Asia’s biggest economy will contract by 0.3 percent this year, according to the June update of the World Economic Outlook titled A Crisis Like No Other, An Uncertain Recovery, which was published on Wednesday. The global economy, meanwhile, is expected to shrink by 4.9 percent.
“The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is proje...
Starting from IDR 55,000/month