BOTTOM LINE: Taken together, the indicators during May and up until mid-June 2020 indicate that the Indonesian economic state of play remained weak amid the Covid-19 pandemic. The inflation was very low, rupiah and stock index strengthened but face volatilities ahead, manufacturing was on a deep contraction phase, export and import fell sharply, and state budget was amended with a decreased revenue and increased expenditure targets boosts the deficit. Amid the escalating number of positive Covid-19 cases, the economy has been gradually reopening to avoid deeper downturn. It requires strict enforcement of health protocols and compliance.

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