Finance Minister Sri Mulyani Indrawati said Indonesia’s economy was entering into recession as it contracted in the second and third quarters of this year. In the second quarter (Q2), the country’s economy contracted 5.32%, and in Q3, Sri Mulyani said, the economy is to post negative growth of 2.9% to 1.0%. The minister also expects the economy to remain facing a contraction in Q4 this year. The Finance Ministry revised its earlier projection of minus 1.1% growth to positive and 0.2% for Q3 and the uncertainty caused by the COVID-19 pandemic.

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