April 9, 2020 / 10:04 AM / 2 months ago

Indonesia central bank sees GDP growth bottoming at 1.1% in Q2

JAKARTA, April 9 (Reuters) - Indonesia’s annual economic growth is expected to weaken to 1.1% in the second quarter due to measures to control the spread of the novel coronavirus, before growth picks up slightly in the subsequent quarters, the central bank governor said on Thursday.

Governor Perry Warjiyo said GDP growth in the first three months of 2020 was probably 4.7%. Growth was seen at 1.3% in the third quarter and 2.4% in the fourth quarter.

This forecast was based on the virus outbreak peaking in May, with economic activities stabilising in the third quarter and recovery in the fourth quarter, Warjiyo told a call with investors.

Bank Indonesia’s GDP growth forecasts for 2020 and 20201 are 2.3% and 5.2%, respectively. (Reporting by Tabita Diela and Gayatri Suroyo; Editing by Catherine Evans)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below