Jakarta (VNA) – Indonesia’s economy continued to shrink at 0.74 percent year-on-year in the first quarter of 2021, according to Statistics Indonesia (BPS) head Suhariyanto.
The growth rate was still in the negative territory but showed an improving trend, compared to contractions of 2.19 percent in the fourth quarter of 2020, 3.49 percent in 2020's Q3 and 5.32 percent in the second quarter of 2020.
He said that structurally 64.56 percent of Indonesia's gross domestic product (GDP) in the first trimester of this year came from five main sectors, namely industry, agriculture, trade, construction, and mining.
Suhariyanto forecast the economic growth will be positive in the remaining quarters of this year.
On May 6, Secretary of the Coordinating Ministry for Economic Affairs Susiwijono Moegiarso said the government plans to relax value-added tax (VAT) and income tax (PPh) for enterprises in a bid to boost domestic consumption and retail market and support the economic recovery./.
- Brazil's economy to shrink 5 pct in 2020, grow 4 pct in 2021, says central bank chief
- Indian economy contracts 23.9% during Apr-Jun as lockdown plays havoc
- Q1 GDP shrinks | How long will the free fall last?
- India GDP Q1 data: Farm activity shows promise. Can it engineer a rebound?
- Expert views: India’s economy shrinks record 23.9% in first quarter
- Core sector output shrinks by 9.6% in July
- The Indian economy, in three time horizons
- Q1 GDP numbers show worst contraction on record; will market take a knock on Tuesday?
- Morning Digest: PM Modi remembers Pranab Mukherjee as a father figure and mentor; GDP contracts by record 23.9% in Q1, and more
- Global Economy: Asia's factories shaking off COVID gloom, China shines
Indonesia’s economy continues to shrink in Q1 have 285 words, post on en.vietnamplus.vn at May 7, 2021. This is cached page on Talk Vietnam. If you want remove this page, please contact us.