Jakarta: Coordinating Minister for Economic Affairs Airlangga Hartarto has predicted that the impact of the COVID-19 outbreak to the Indonesian economy could be detected in February and March.
"We will see in February and March. It is based on several calculations," the Functional Groups (Golkar) Party chairman said here on Monday, February 24, 2020.
"In the future, we need to anticipate global risks such as trade wars and the ongoing COVID-19 outbreak. We have to monitor the spread of this virus," the former industry minister stated.
Bank Indonesia (BI) projects lower economic growth in 2020 at 5.0-5.4 percent, downgraded from 5.1-5.5 percent, before accelerating in 2021 to 5.2-5.6 percent.
The central bank has revised down its projection for 2020 due to the potentially muted global economic recovery in light of the recent Covid-19 outbreak, which will impact Indonesia's economy through the tourism, trade and investment channels.
Nonetheless, it will continue to strengthen coordination with the government and other relevant authorities to strengthen the sources, structure and speed of economic growth, while attracting investment through infrastructure projects and implementation of the Omnibus Bill on Job Creation and Taxation.