Indonesian economy loses Malaysia & Philippines!

Jakarta, CNBC Indonesia – The mutation of the delta variant of the coronavirus has spread very quickly recently. It also hit the economies of developing countries, particularly Asia.

In the IMF’s July report, quoted by CNBC Indonesia on Wednesday (July 28th, 2021), Indonesia turned out to be the most affected by this variant.

The rise in Covid-19 cases in Indonesia has been recorded since the end of June 2021. Covid-19 cases hit a record high throughout the pandemic, which was over 50,000 people a day. Likewise, yesterday’s deaths were over 2000 per day.

The government responded to this condition by imposing Emergency Restrictions on Community Activities (PPKM) and continuing PPKM Levels 3 and 4 with the aim of reducing community mobility in order to reduce the spread of cases.

The negative impact is the delay in the pace of the national economic recovery. The IMF estimates that Indonesia’s economic growth will decline to 3.9% from the previous forecast of 4.3%.

Compared to countries in Southeast Asia, Indonesia is only slightly above Thailand, but below Malaysia and the Philippines. Indonesia’s position also looks poor compared to the world’s developing countries.

Below is a list of economic growth according to the IMF report:

  • Indonesia 3.9%
  • Malaysia 4.7%
  • Thailand 2.1%
  • Filipino 5.4%
  • Russia 4.4%
  • Turkey 5.8%
  • Pakistan 3.9%
  • Argentina 6.4%
  • Brazil 5.3%
  • India 9.5%
[Gambas:Video CNBC]

(I i)