KONTAN.CO.ID - JAKARTA. Indonesia's economic recovery was "very fragile" and could reverse as shown by tax revenue data in July, the country's finance minister said on Tuesday, warning that the economy faced a struggle to avoid a recession. Revenues had improved temporarily in June after coronavirus-induced restrictions were eased, but the improvement stagnated in July and contributions from some sectors such as trade, mining and construction deteriorated, Minister Sri Mulyani Indrawati said, describing this as "a map that shows our economic recovery is very fragile and may reverse." Indrawati said for Southeast Asia's largest economy to record flat growth of around 0% in the third quarter would "require an extraordinary struggle". The economy contracted 5.32% in April-June from a year earlier.
Finance Minister: Indonesia faces struggle to avoid recession
KONTAN.CO.ID - JAKARTA. Indonesia's economic recovery was "very fragile" and could reverse as shown by tax revenue data in July, the country's finance minister said on Tuesday, warning that the economy faced a struggle to avoid a recession. Revenues had improved temporarily in June after coronavirus-induced restrictions were eased, but the improvement stagnated in July and contributions from some sectors such as trade, mining and construction deteriorated, Minister Sri Mulyani Indrawati said, describing this as "a map that shows our economic recovery is very fragile and may reverse." Indrawati said for Southeast Asia's largest economy to record flat growth of around 0% in the third quarter would "require an extraordinary struggle". The economy contracted 5.32% in April-June from a year earlier.