Bank Indonesia (BI) reported that the national economic improvements observed since the third quarter (Q3) of 2020 have persisted, with data published by BPS-Statistics Indonesia confirming a shallower -0.74% (yoy) contraction in the first quarter (Q1) of 2021 compared with -2.19% (y/y) in the Q4 of 2020. Domestic economic recovery momentum builds on the back of rapid external sector gains in response to the stronger global economic recovery and ongoing acceleration of fiscal stimuli.

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