The Worst is Over Now. Finance Minister Sri Mulyani Indrawati said Indonesia had pass the worst period cause by the Covid-19 pandemic. According to him, the worst period due to the pandemic was in the second quarter of 2020. Previously, in the second quarter of 2020, Indonesia’s economy contract at minus 5.32% yoy.
Meanwhile, in the third quarter of 2020, the economy was still in the negative zone, but improve to minus 3.49% yoy. Judging from the economic growth from the business field, it appears that the performance of various business sectors has start to climb. Moreover, several sectors were badly hit in the second quarter of 2020.
Such as the transportation and warehousing sectors. Turning points in the third quarter of 2020 and this gives hope for economic recovery from the production side. Almost all sectors have experience improvements, or turning points. This means that in the third quarter of 2020 it shows the worst is over, said Ani, Thursday (5/11) via video conference.
According to data from the Central Statistics Agency (BPS), the transportation and warehousing sector in the third quarter of 2020 record a growth of minus 16.70% yoy. This is much better than the growth in the second quarter of 2020 which was record at minus 30.80% yoy. In addition.
There are also other sectors that have experience rapid growth, namely the accommodation and food and beverage provision sector which record a growth of minus 11.86% yoy after falling by minus 22.02% yoy in the second quarter of 2020. Two sectors that have contribute significantly to economic growth also appear to have improve.
Namely the manufacturing industry. In the third quarter of 2020, the manufacturing industry appears to have grown by minus 4.3% yoy after the previous quarter grew by minus 6.2% yoy. Meanwhile, the wholesale and retail trade sector also appears to show improve performance with growth at minus 5.03% yoy.
Or better than the second quarter of 2020 which was minus 7.57% yoy. Furthermore, the government will not be discourage from continuing to strive to boost Indonesia’s economy. These efforts will continue to be roll out in various fiscal stimuli, both in tax incentives and encouraging spending.
To help the production sector revive. We will continue to do it and we will also carry out an evaluation in order to provide a stronger impetus for recovery in these economic sectors, said the minister.