PHOTO
An aerial view of deserted main roads in Jakarta following the imposition of large-scale social restrictions by the government to prevent the spread of the coronavirus disease (COVID-19) in Jakarta, Indonesia, April 10, 2020 in this photo taken by Antara Foto. Antara Foto/Sigid Kurniawan/ via REUTERS
JAKARTA - Indonesia's gross domestic product is expected to contract between 1.0% to 0.1% in the first quarter from a year earlier, marking an improvement from a 2.2% contraction in the fourth quarter as consumption recovers, the finance minister said.
Tax revenues in the January-February period contracted 4.8% on an annual basis, but there was an acceleration in revenue generation last month, signaling a recovery in consumption, Sri Mulyani Indrawati said on Tuesday.
The state budget had a deficit equal to 0.36% of GDP in the first two months of 2021, she said.
(Reporting by Gayatri Suroyo and Fransiska Nangoy Editing by Ed Davies) ((gayatri.suroyo@thomsonreuters.com; +622129927609; Reuters Messaging: gayatri.suroyo.thomsonreuters.com@reuters.net))