Indonesian 2020 GDP seen flat or contracting slightly below 0% - govt

Credit: REUTERS/WILLY KURNIAWAN

Indonesia's finance ministry revised its outlook for 2020 gross domestic product (GDP), now expecting flat economic growth or a contraction of slightly below 0%, Febrio Kacaribu, the head of its fiscal policy office, told an online seminar on Friday.

JAKARTA, July 24 (Reuters) - Indonesia's finance ministry revised its outlook for 2020 gross domestic product (GDP), now expecting flat economic growth or a contraction of slightly below 0%, Febrio Kacaribu, the head of its fiscal policy office, told an online seminar on Friday.

The ministry's previous outlook was a change in 2020 GDP of between -0.4% to 1% compared with the size of the economy in 2019.

Kacaribu said authorities are working to avoid two straight quarters of GDP contraction in the second and third quarters and are hoping for a fourth quarter GDP expansion of 2%-3%.

(Reporting by Maikel Jefriando and Gayatri Suroyo; Editing by Muralikumar Anantharaman)

((gayatri.suroyo@thomsonreuters.com; +622129927609; Reuters Messaging: gayatri.suroyo.thomsonreuters.com@reuters.net))

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