THE Ministry of Finance projects that Indonesia’s economic growth in the first quarter of 2020 can be above 4%. This was supported by good economic activity in January and February.

According to the Minister of Finance, Sri Mulyani Indrawati in a virtual discussion on Wednesday (29/4) said we saw that Indonesia for the first quarter of 2020 might still be rather good. Especially since January-February we are still good, so we estimate for the first quarter of Indonesia’s economic growth above 4%.

“However, along with the large-scale social restriction policy (PSBB) which began in the second quarter, I reveal that Indonesia’s overall economic growth will grow 2.3%,” she said.

She added, this projection was supported by the heavy pressure that would be faced by Indonesia throughout the second 2020. Then, in the third and fourth 2020 there would be a gradual recovery.

“If the scenario is even tougher, we estimate that there could be a scenario at negative 0.5%. Therefore, for the Indonesian economy, economic conditions must continue to be researched and responded to with policies that are dynamic, and continue to be adjusted based on existing developments,” said Sri Mulyani.

Sri Mulyani also explained, the difficult thing in conducting economic projections at this time was that no one knew when this pandemic would disappear or decline. What is very clear at this time is that the economic problem will decline sharply because the state has taken various security measures.

“Like they do a lockdown or they do social distancing, then the economy will drop sharply,” she concluded. [ special]