Jakarta, CNBC Indonesia President Joko Widodo (Jokowi) opened a limited meeting on the topic of merging State-Owned Enterprises (SOEs) in the aviation and tourism sector at the Merdeka Palace, the Presidential Palace complex.
In front of the ranks of the advanced Indonesian cabinet ministers, Jokowi spoke about the latest data Indonesian economic growth in the second quarter of 2020 recently released by the Central Statistics Agency (BPS).
“Our economic growth in the second quarter fell at minus 5.32%,” said Jokowi who looked frowned on Thursday (6/8/2020).
Jokowi then highlighted the forming components of economic growth which experienced a deep enough contraction. One of Jokowi’s concerns is in the tourism sector.
“The figure that I got in quarter II-2020 foreign tourists who came to Indonesia was 482 thousand. This fell 81% quarter-on-quarter, and down 87% year-on-year,” he said.
BPS previously announced figures on the economic output or Gross Domestic Product (GDP) of Indonesia in the period II-2020. As expected, Indonesia’s economy experienced contraction, aka negative growth.
Statistics authority data show, Indonesia’s GDP from April to June 2020 experienced a contraction of -5.32% compared to the same period last year (year on year / yoy). As compared to the previous quarter, GDP in the second quarter of 2020 experienced a contraction of -4.19%.
These two successive contractions finally put Indonesia into a phase of technical recession. Because, in the first quarter of 2020 on a quarter-to-quarter basis, Indonesia’s GDP recorded minus 2.41%.
(Cha Cha dance)
–
