Sandiaga Uno Predicts Indonesia's Economy In The Third Quarter Of Minus 2 Percent

JAKARTA - Indonesia's economic growth in the third quarter of this year is predicted to be negative. In the second quarter, Indonesia's economic growth was minus 5.32 percent. However, some parties believe the contraction in the third quarter will not be as deep as the second quarter.

Even so, the current economic recession is threatening Indonesia. Former Deputy Governor of DKI Jakarta Sandiaga Uno thinks that Indonesia will soon fall into the brink of recession, as has been experienced by several countries, from Singapore, America, to Germany.

"My prediction is that in the third quarter we will be minus 2 percent. If we all agree that minus 2 percent means the world is over, because yesterday we were minus 5 percent," he said in a virtual discussion, Friday, August 21.

However, Sandi said, even though growth remained negative, in fact the market in society was starting to improve. This is marked by the increase in the price of securities in the United States, including Indonesia.

"I also want to raise the awareness that the market in this society has also started to improve. In terms of yield, from the perspective of the financial market market is getting better, this encouraging point turns out to be driving up securities prices, issuer's prices in America and in some regions. In other world, including Indonesia, the growth is increasing. Hopefully it can trigger our economic recovery, "he said.

The threat of a recession is even more real if the increase in the number of new COVID-19 cases cannot be suppressed. Sandi said, this virus will continue to suppress in terms of economic activity

Especially if you look at consumer spending and this is directly related to COVID-19 cases in the world and those that have also been observed in the United States.

"What is interesting in my opinion is that there will be no economic recovery, if there is no health recovery so it is as simple as that. If we do not have health recovery, we will not be able to restore our economic situation," he said.

According to Sandi, reducing the number of the spread of COVID-19 is a shared responsibility not only of the government. By running and adhering to medical protocols, the economy will revive.

"So this is all our responsibility. We are sure that economic functions will rise if we finish this health," he said.