Jakarta’s return to lockdown surprises analysts, hurts economy
Published 10 Sep,2020 via Bloomberg Markets - The unexpected decision to put back Indonesia’s capital back into a tougher lockdown has surprised analysts and investors as well as threatening to prolong the recovery of the Southeast Asia’s largest economy.
With Jakarta accounting for around 20% of the country’s GDP, the decision could cause the Indonesian economy to contract for a third consecutive quarter, instead of an earlier expectation for a recovery in the tail end of the year.
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Harry Suhartono