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Jakarta Post

Indonesian GDP to fall more than thought, country must get grip on virus: World Bank

  • Adrian Wail Akhlas

    The Jakarta Post

PREMIUM
Jakarta   /   Wed, September 30, 2020   /  08:22 am
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Residents distribute staple food in their neighborhood in Tengah subdistrict, Kramat Jati, East Jakarta, on Sept. 25. Indonesia’s economy may contract more than expected if the coronavirus pandemic remains uncontrolled, the World Bank said on Tuesday.(JP/P.J. Leo)

Indonesia’s economy could contract more than expected if the coronavirus pandemic remains uncontrolled, as Southeast Asia’s largest economy faces an “uneven and volatile” economic recovery, the World Bank says. The Washington, DC-based development bank now projects Indonesia’s economy to contract by 1.6 percent this year under the baseline scenario; in June it had projected zero growth. However, the economy may contract even by 2 percent if the country fails to control the pandemic, according to the World Bank’s East Asia and Pacific Economic Update published on Tuesday. “It is in countries like Indonesia and the Philippines that recovery will be much slower, because they have not succeeded in controlling the disease,” World Bank East Asia Pacific chief economist Aaditya Mattoo said during a virtual press briefing on Tuesday. &...