USD/IDR Price News: Indonesian rupiah better bid despite warnings on economic recovery

Indonesia's Finance Minister Sri Mulyani Indrawati warned on Tuesday that the economy faced a struggle to avoid a recession while the recovery remained very fragile.

Key quotes

“Southeast Asia's largest economy to record flat growth of around 0% in the third quarter would require an extraordinary struggle.”

“Expect July-September GDP within a range of -2% to 0%, but maintained 2020 outlook of between -1.1% to 0.2%.”

“We will see if the trend continues in August, whether we can stay in the zone of near 0% and we can continue to guard against falling into recession.”

“Expect the country's fiscal deficit to be 6.34% of GDP, with the government having earmarked $187 billion for its 2020 budget.”

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