Luhut Binsar Pandjaitan: Nobody's Able To Predict Our Economic Conditions Amid the Current Pandemic

TRIBUNBATAM.id - The Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, projected that Indonesia's economic growth by the end of the year will reach 3 percent of Gross Domestic Product (GDP). 

However, according to him in the condition of the coronavirus pandemic (Covid-19), no one can predict. Therefore, he is still observing the condition of economic activity for the next 6 weeks.

"However, the slowdown in growth is due to the Covid-19 pandemic. The Indonesian economy is projected at the end of the year 2-3 percent. Although this can still change," he said in the virtual launch of the National Movement for Government Procurement Spending for Micro and Small Businesses (UMKM), Friday (6/26/2020). 

This downturn in economic growth, according to Luhut, has an impact on employment and people's purchasing power. Therefore, the role of government spending becomes very important.

• Government: Not Wearing Masks, Is the Main Factor in Spreading the New Case of Covid-19

• UPDATE: Increased by 1,178, Covid-19 Cases in Indonesia Exceeded 50.000

"This UMKM is also important because it creates jobs. Because of the good purchase rate," he said

Previously, the Central Statistics Department (BPS) released Indonesia's economic growth figures in the first quarter of 2020. grew 2.97 percent yearly (year on year/yoy) and contracted 2.41 percent quarterly. 

Indonesia's economic growth in the first quarter of 2020 slowed down considerably from 5.07 percent in the first quarter of 2019.

According to expenditure, all components experienced a contraction in the fourth quarter of 2019. Government consumption contracted by 44.02 percent, imports by -11.89 percent, PMTS -7.89 percent, and exports by -6.37 percent. (*) 

• BREAKING NEWS - Gegara Jalan Licin, Lurah Tanjungriau Batam Adu Mulut dengan Koordinator Proyek

• 6 Arti Mimpi Dikejar Buaya, Dikejar Buaya Hitam Pertanda Buruk, Bagaimana jika Dikejar Buaya Putih?

• Bau Mulutmu Tak Sedap dan Menyengat? Cegah dengan Konsumsi Makanan Berikut Ini

• Apabila Sudah Jadi dan Teruji, Siapa Kira-kira yang akan Dapatkan Vaksin Corona Pertama Kali?