Indonesia’s household spending to decline due to COVID-19
Household spending in Indonesia, which contributes up to 57.4 percent of the country’s gross domestic product (GDP), is expected to slow down this year as more people lose their jobs during the COVID-19 pandemic.
A corner of Jakarta (Source: Indonesia Expat)Jakarta (VNA) - Household spending in Indonesia, which contributes up to 57.4 percent of the country’s gross domestic product (GDP), is expected to slow down this year as more people lose their jobs during the COVID-19 pandemic.
Fitch Solutions researchers said growth in household spending is estimated at a mere 1.2 percent in 2020 from 5 percent last year.
The government projects that around 2.9 million to 5.2 million workers could lose their jobs, while around 1.1 million to 3.78 million people could fall into poverty.
On April 23, Indonesia’s Transportation
Ministry announced that the country will suspend domestic flights until June 1
and passenger transportation by June 8. The ban will not apply to cargo
transportation.
The country’s Defense Ministry recently issued a circular forbidding the use of teleconference platform Zoom among its staff due to security concerns.
Indonesia has so far recorded 7,775 COVID-cases with 647 deaths and 960 recoveries, according to the country's health ministry./.
The country’s Defense Ministry recently issued a circular forbidding the use of teleconference platform Zoom among its staff due to security concerns.
Indonesia has so far recorded 7,775 COVID-cases with 647 deaths and 960 recoveries, according to the country's health ministry./.
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