The economic contraction trends expanded in almost all countries in the first half of this year, including Indonesia. The government is eyeing to reverse the downtrend in the third quarter of 2020, targeting a full-year economic growth of 0.5-1 percent.
Indonesian companies and enterprises are struggling to keep their businesses to stay afloat since the Covid-19 spread does not seem to slow down.
The coronavirus outbreak, originated from China, is finally infecting the Indonesian economy.
The administration has issued many policies along with its controversies. Although the government "controls" almost all political parties, the social and political dynamics of each policy may not subside.
The Chinese government is giving full efforts to contain the novel coronavirus (2019-nCoV), which was first identified in Wuhan, the capital of Hubei Province.
In 2020, the cost of living in Indonesia will get even higher, following the implementation of several tariff increases set by the government, from cigarette excise, toll tariff rate, to the premiums of BPJS Kesehatan.
Indonesia recorded the worst international trade performance in history. As announced by the Statistics Indonesia (BPS), the trade deficit reached US$ 2.5 billion in April 2019.