Finance Minister Sri Mulyani Indrawati projects that Indonesia's economic growth will be in the range of minus 1% to minus 0.1% year on year (YoY) in the first quarter of 2021.
"We hope that we can actually reach the neutral zone, but we are still close to minus 0.1%," Sri Mulyani said at "the Our Budget" press conference, Tuesday (23/3).

She based the first quarter of the 2021 growth projection on Indonesia's economic activity, which has started to grow. 

She gave an example, the PMI for manufacturing, exports, imports, and public spending has shown improvement since the beginning of this year.

"Then, consumption and investment are expected to improve on a limited basis in line with the escalation of the Covid-19 pandemic, which is still holding back the level of confidence," she added.
She estimates that Indonesia's economic growth this year will still be in the range of 4.5-5.3%. 

Meanwhile, global institutions such as the OECD, IMF, World Bank, and Fitch Ratings estimated that Indonesia's economic growth would be around 4.9%, 4.8%, 4.4%, 5.3%, respectively.

"The economic recovery trend is projected to continue this year. The triggers for the economic recovery come from factors: the vaccination program will continue to be accelerated with the amount of vaccine supply on track, the expansive and consolidative 2021 State Budget is focused on continuing to handle the Covid-19 pandemic and strengthening economic growth trends, and integration of the Financial System Stability Committee (KKSK) policy package to increase the financing of the business world, as well as the implementation of structural reforms, "she explained.