Office buildings are seen in Jakarta in this undated photo. The Indonesian economy is heading toward gloomier skies this year as the Covid-19 pandemic has yet to show any signs of subsiding. - The Jakarta Post/ANN
JAKARTA, June 22 (The Jakarta Post/ANN): The Indonesian economy faces gloomier skies this year as the Covid-19 (coronavirus) pandemic has yet to show any signs of subsiding, forcing government officials, the central bank, economists and international institutions to project weaker and weaker growth as the outbreak unfolds.
The Asian Development Bank (ADB) projected Indonesia’s gross domestic product (GDP) to shrink 1 per cent this year, the weakest since the 1998 Asian financial crisis as the coronavirus pandemic has inflicted a “significant economic disruption” in the country. The forecast is a down revision from 2.5 percent growth it projected in April, according to the ADB’s Asian Development Outlook Supplement.
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