Indonesia's economy to recover in August 2020: World Bank

JAKARTA, July 17 -- Indonesia's economy is expected to begin reopening and recovering in August this year despite the COVID-19 pandemic pressure, reported Xinhua news agency, quoting World Bank Country Director for Indonesia and Timor-Leste Satu Kahkonen on Thursday.

The prediction on the start of the Indonesian economic recovery in August constituted one of the World Bank's three assumptions on the country's economic growth this year, Kahkonen said at a function on the Indonesia economic prospects.

The international financial institution predicted that Indonesia's economy as a whole this year would not grow or grow by zero per cent, she said, adding it was in line with the World Bank's projection that the global economy would experience contraction by up to 5.2 per cent in 2020, the worst recession since World War II.

In addition, she said the prediction that the Indonesian economy would grow by zero percent was also made based on an assumption that there would be no second wave of the COVID-19 pandemic.

The forecasts would be subject to change if the three assumptions change, she said.

-- BERNAMA