Coronavirus: Indonesia records slowest growth in two decades

Indonesia has posted its slowest growth in about two decades as the coronavirus crisis made its effects felt in exports, investment and consumption in the Southeast Asia's largest economy. Gross domestic product expanded by only 2.97 percent in January-March from the same period last year, the Central Statistics Agency announced on Thursday.

This compares to a 4.99 per cent expansion in the last quarter last year. The last time Indonesia saw a lower growth was in the fourth quarter of 2001.

The first quarter reading might just be a sign of even more challenging times for the rest of the year. Since the pandemic began, the government has revised its growth projection to 2.3 per cent this year, down from its original target of 5.3 per cent.

Confirmed COVID-19 cases rose by more than 300 in Indonesia on Thursday, to take the country's total to almost 13,000. The government also reported 35 people died within previous 24 hours, another highest spike in a day to bring the country's death toll over 900.