Economics
Indonesia Eyes Growth Rebound With Exit From Virus Lockdowns
- Planning minister predicts growth recovery from third quarter
- Government seeking balance between health, economy: Monoarfa
Customers use social distancing markers at the checkout counter of a convenience store in Jakarta on May 13.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia’s move to gradually ease social distancing rules amid a record surge in coronavirus infections is to ensure an early recovery in Southeast Asia’s largest economy, according to a senior minister.
With the government allowing nine major sectors including mining, plantations, construction and industry to operate under a new health protocol, the country may post 0.5%-1% growth in the third quarter, rebounding from an estimated 2%-3% contraction in the preceding three months, National Planning Minister Suharso Monoarfa said. Growth may further accelerate to 3% in the fourth quarter for a full-year expansion of 1%-1.5%, he said.