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Jakarta Post

Economy showing signs of recovery

  • Adrian Wail Akhlas

    Jakarta

Jakarta   /   Wed, October 28 2020   /  01:00 am
Finance Minister Sri Mulyani Indrawati (clockwise), Deposit Insurance Corporation chairman Purbaya Yudhi Sadewa, Bank Indonesia Governor Perry Warjiyo and Financial Services Authority (OJK) chairman Wimboh Santoso attend Financial System Stability Committee (KSSK) virtual press briefing on Oct. 27, 2020.(Courtesy of the Finance Ministry/-)

Indonesia’s economy showed an improvement in the third quarter following a deep slump in the second quarter amid uncertainty caused by the coronavirus pandemic, the Financial System Stability Committee (KSSK) has said. The country’s financial system remained stable in the third quarter and was expected to further support economic recovery going forward, said the committee, whose members are the finance minister, Bank Indonesia (BI) governor, the Financial Services Authority (OJK) chairman and the Deposit Insurance Corporation (LPS) chairman, on Tuesday. “The domestic economy has gradually improved after experiencing pressure in the second quarter [...] supported by accelerated fiscal stimulus disbursement and an improvement in exports,” said Finance Minister Sri Mulyani Indrawati, who serves as the committee’s chair, in a virtual briefing. “Exter...