Jakarta: Indonesian President Joko Widodo (Jokowi) delivered his annual national address at the Parliament Building in Central Jakarta on Friday.
The president strongly believes that the covid-19 pandemic-induced global economic crisis can become a momentum to catch up with developed countries.
"It is a momentum to catch up," Jokowi said.
According to him, the current global economic situation is similar to a computer that hangs. The same situation is experienced by both developed and developing nations. Every country is currently trying to revive its economy.
"Like a computer that hangs, every country must shut down, restart and reboot its economy," Jokowi stated.
Indonesia’s economy contracted 5.32 percent (yoy) in the second quarter of 2020 period after expanding 2.97 percent (yoy) in the previous quarter.
The recent contraction is consistent with global economic weaknesses stemming from the covid-19 pandemic as well as containment measures in the form of large-scale social restrictions to break the domestic chain of transmission.