July 23, 2020 / 9:24 AM / 12 days ago

Indonesia central bank predicts two straight quarters of GDP contraction

JAKARTA (Reuters) - Indonesia will likely see two consecutive quarters of negative growth in gross domestic product starting from April-June, but authorities are working to prevent a “deep recession”, a central bank official said on Thursday.

“We’re racing with time on setting up policies ... to prevent us falling into a deep recession,” Juda Agung, an assistant to the governor of Bank Indonesia, told a online seminar.

Reporting by Maikel Jefriando; Writing by Gayatri Suroyo; Editing by Alex Richardson

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