Breaking News! BPS Releases Indonesia's 2020 Economic Growth Of Minus 2.07 Percent

JAKARTA - The Central Statistics Agency (BPS) said that Indonesia's economic growth throughout 2020 contracted minus 2.07 percent annually compared to the 2019 period.

Head of BPS Suharyanto said that on a quarterly basis, economic growth in the fourth quarter of 2020 contracted by minus 0.42 percent. Meanwhile, growth in the fourth quarter of 2020 compared to the fourth quarter of 2019 contracted more deeply with a note of minus 2.19 percent.

"Some important notes that occurred in the last quarter of 2020 that can illustrate economic growth over the past year are related to the low inflation rate," he said in a virtual press conference, Friday, February 5.

In his explanation, inflation in the fourth trimester / 2020 was 0.7 percent smaller when compared to the same period the previous year with 1.68 percent.

Then, another indication is the decline in the number of foreign tourists coming to Indonesia with a record of 462 thousand in the fourth quarter of last year or a drop of 88 percent on an annual basis.

“This is due to the pandemic which has made many countries still impose travel bans on their citizens. For that, we see that the potential for increasing tourism can only be achieved by domestic tourists, "he said.

To note, economic growth has decreased sharply this year by minus 2.07, which is very different from the achievements throughout 2019 which were at the level of 5.02 percent. Meanwhile, for the 2018 and 2017 periods it was recorded respectively 5.17 percent and 5.07. percent.