Indonesia raises crisis protocol status, warns risk of no GDP growth

Indonesia's finance minister on Friday raised the country's crisis management protocol level to "standby" from "alert" and warned that if the COVID-19 outbreak persisted, economic growth could fall to between 0%-2.5%.

Minister Sri Mulyani Indrawati said her baseline scenario was for GDP growth at above 4%, while the scenario of no growth assumed the coronavirus outbreak lasting three to six months, global trade slumping and Indonesia going into lockdown. Indonesia's GDP grew 5.02% last year.

A total of 62.3 trillion rupiah ($3.85 billion) in government spending will be shifted to finance the country's COVID-19 response, she told an online briefing, up from 17.17 trillion rupiah previously announced. ($1 = 16,175.0000 rupiah)

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