Minister positive about Indonesia’s Q4 economic growth
The Indonesian economy is expected to grow in the range of minus 2 percent to positive 0.6 percent in the fourth quarter of this year, Coordinating Minister for Economic Affairs Airlangga Hartarto said on December 15.
Indonesian women go shopping in Jakarta, Indonesia. (Photo: Xinhua/ VNA)
Jakarta (VNA) – The Indonesian economy isexpected to grow in the range of minus 2 percent to positive 0.6 percent in thefourth quarter of this year, Coordinating Minister for Economic AffairsAirlangga Hartarto said on December 15.
The projected growth could be achieved if the momentumfor recovery that began in the third quarter – when the economy showed asmaller contraction of 3.49 percent compared to 5.32 percent in the secondquarter – is maintained, Airlangga stated.
Economic growth data for the second and third quarterhave shown that Indonesia has begun to bounce back after hitting rock bottom,so the chance for recovery needs to be maintained, he stressed.
Indonesia has an opportunity for economic recovery andpositive growth of 0.6 percent given the increase in domestic demand andconsumer confidence, as reflected in increased household consumption, theminister explained.
Economic improvement in developed and developingcountries related to the Purchasing Managers Index (PMI) shows manufacturing invarious countries has started to be positive, and in Indonesia it has alsoreached 50.6, he said.
Not only that, the inflation rate that was maintained atthe level of 1.59 percent year-on-year in November could also be a drivingforce for better growth in the fourth quarter, he added.
Several other sectors are also likely to contribute topositive growth, such as agriculture, plantations, education, information and telecommunications,health, and social activities, the minister said.
In addition, the manufacturing, trade and consumptionindustries, which have a big contribution to GDP, are also experiencingpositive growth, he noted.
Meanwhile, in the financial market, despite a decline,the JCI (Jakarta Composite Index) indicator has returned to its pre-COVID-19level of 5,900, and the IDR/USD exchange rate has strengthened again to 14,100IDR, Hartarto observed.
Furthermore, a positive trade balance will continue in2020, the minister continued, the trade surplus stood at 3.61 billion USD in October,and was recorded at 17.07 billion USD for the January-October period./.
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Indonesian women go shopping in Jakarta, Indonesia. (Photo: Xinhua/ VNA)
