Bali economic pressures Quarter II, here's the projection Bank Indonesia

Pressure began to ramps in the fourth quarter of 2020 along with the new normal applied to the next July 9 on the island of the gods.
Luh Putu Sugiari -Bisnis.comJune 23rd, 2020 | 21:24 WIB

A number of riders cross the park area of Titi Banda, Denpasar, Bali, Friday (15/5/2020). -Antara/Nyoman Budhiana

Bisnis.com, DENPASAR-Pandemi Covid-19 caused Bali's economic growth in THE quarter II/2020 to undergo a deeper contraction.

Head of Bank Indonesia representative office of Bali Province Trisno Nugroho reveals Bali's economic growth is expected to continue to grow negatively until the THIRD quarter of 2020. However, it began to ramps in the fourth quarter of 2020 along with the new normal applied to the next July 9 on the island of the gods.

"We hope that the 2021 economy of Bali can grow positively, because the comparison in the 2020 is negative economic growth," he said at KPwBI Bali, Tuesday (23/6/2020).

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From the other side, Bali has increased inflation in June 2020. Trisno explained, based on the results of the Price Monitoring Survey (SPH) on the week of June 2020, price developments in Bali increased by 0.26 percent (MTM) higher than the May inflation of-0.11 percent (MTM).

This implies that Bali will experience inflation in June by 0.38 percent to 0.58 percent (MTM) or 2.55 to 2.76 percent (YoY)

"It means that the economy of Bali is still at inflation target of 3.0 percent ± 1 percent (YoY)," he said.

National economic growth is also estimated to decline in the quarter II 2020 caused by the declining exports in line with the contraction of the global economy, while household and investment consumption decreased in line with the impact of PSBB policies that reduce economic activity.

"With the projected economic contraction continuing until the THIRD quarter of 2020, BI estimated the global economy 2020 recorded a negative growth of 2.2 percent," he said.

Bali