Statistics Indonesia (BPS) reported on Feb. 5 that Indonesia’s economy had remained in recession in 2020 as it contracted by 2.07%, the first time in over two decades. The main factor being the COVID-19 pandemic. The Country continues to struggle, but the Government firmly believes that growth will happen in the first quarter (Q1) of 2021. That the economic contraction narrowed from 5.32% in Q2 of 2020 to 3.49% in Q3, and 2.19% in Q4, seems to serve as a good omen for the Government.
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