as indonesia officially enters recession bali is still the most impacted economy

Indonesia has officially entered recession after 20 years of Asian financial crisis however Nusa Tenggara and Bali Islands are officially the worst hit economy of the country amid the pandemic.

An announcement was made by The Central Statistic Agency on 5th November that GDP of Indonesia has contracted by 3.49 percent in the 3rd Quarter of 2020 which is actually followed by a contraction of 5.32 percent in 2nd Quarter of 2020. A recession is considered for a country when a negative GDP growth is recorded in two quarters.

Based on island groupings, BPS said Bali and Nusa Tenggara provinces suffered the deepest contraction.

“The province group of Bali and Nusa Tenggara islands experienced the deepest growth contraction of 6.8 percent,” BPS chief Suhariyanto said during a virtual press conference.

A reduction of 12.28 percent in Bali's economy was recorded on the annual basis in the Q3 which already contracted by 10.98 percent in the second quarter.

However, when compared solely to the previous quarter, BPS said Bali’s regional GDP expanded 1.66 percent, indicating that “Bali’s economy is slowly recovering amid the pressures of the COVID-19 pandemic.”