Indonesia's economic growth recorded at negative 0.74% in Q1


Shoppers at Pasar Induk Kramat Jati wholesale market in Jakarta, Indonesia on Sunday, May 2, 2021. Indonesia could face a challenging road back to fiscal discipline as the government expects to keep spending heavily to support the economy next year. - Bloomberg

JAKARTA, May 5 (Xinhua): Indonesia posted an economic growth of negative 0.74 per cent in the first quarter of this year, showed data from its central statistical agency Statistics Indonesia on Wednesday.

"The Indonesian economy is still contracting by 0.74 percent year-on-year," said the agency head Kecuk Suhariyanto.

Best performance was reported in the information and communication sector with a growth of 8.72 per cent, while the largest contraction occurred in the transportation and warehousing sector, at negative 13.12 per cent.

Indonesia began to face economic contraction since the second quarter of last year, at 5.32 per cent, amid the Covid-19 pandemic.

In the following quarters the growth rate was still in the negative territory but showed an improving trend, recorded at negative 3.49 per cent and negative 2.19 per cent year-on-year respectively in the third and fourth quarters of 2020. Enditem

Meanwhile, an earthquake of 5.8 magnitude jolted Indonesia's western province of West Sumatra on Wednesday (May 5), the Indonesian Agency for Meteorology, Climatology and Geophysics said.

The quake rocked at 08:24 a.m. Jakarta time (0124 GMT) with the epicenter located at 3 km southeast Tuapejat village of Mentawai islands district and its depth was at 29 km.

The agency did not issue a warning for a tsunami. - Xinhua
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