Indonesia revises GDP forecast to deeper contraction for 2020

[JAKARTA] Indonesia's government has revised down its 2020 gross domestic product (GDP) outlook to a range of -1.7 per cent to -0.6 per cent, from a previous range of -1.1 per cent to growth of 0.2 per cent, the finance minister told an online conference on Tuesday.

Sri Mulyani Indrawati also revised down the third quarter GDP forecast to a range of -2.9 per cent to -1.0 per cent, from -2.1 per cent to 0 per cent previously.

Economic activity has improved since coronavirus curbs were eased in June, but the recovery was flattening, she added.

REUTERS