Indonesia has fallen into its first recession in 22 years as the coronavirus pandemic continues to take its toll.
South East Asia’s biggest economy saw growth fall 3.49% in the third quarter of the year, compared to the same period in 2019.
Following a fall of 5.32% in the second quarter of 2020, this has pushed Indonesia into a recession.
The last time this happened was during the 1998 Asian financial crisis.
Authorities in Indonesia have predicted that 3.5m people could lose their jobs due to the coronavirus downturn.
Indonesia has the highest infection rate in the region.
Government officials have pledged to accelerate spending to counter the pandemic’s impact and push Indonesia’s gross domestic product (GDP) back into growth.

Comments are Closed