Indonesia has revised down its industry growth forecast this year due to the economic slowdown during the novel coronavirus (COVID-19) outbreak, a minister said on Tuesday.
Industry Minister Agus Gumiwang Kartasasmita said the COVID-19 pandemic has led the ministry to lower the industry growth estimate to between 2.5 and 2.6 percent this year from the initial projection of 5.3 percent.
Should the economy decelerate further to 0.5 percent, he said the industry growth would plunge to between 0.7 and 0.8 percent, local media reported.
Meanwhile, Finance Minister Sri Mulyani Indrawati has said the economic growth is likely to decelerate to 2.3 percent this year from 5.02 percent last year.
Such a revision is caused by the COVID-19 outbreak which has dragged down the country's export of raw materials and import of capital goods, affecting the tourism sector amid global economic slowdown triggered by the ravaging pandemic.
The COVID-19 virus kept spreading rapidly in Indonesia, forcing the government to impose partial lockdowns in the country's capital of Jakarta and other cities, which have restricted economic activities.
The COVID-19 has killed 616 people and infected 7,135 others in Indonesia, the Health Ministry said on Tuesday.
Source: Xinhua |
