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Jakarta Economy Achieves Double-Digit Growth

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Release Date	:	August 5, 2021
File Size	:	1.14 MB

Abstract

During the COVID-19 pandemic, Jakarta's economy has grown substantially. The celebration of Eid al-Fitr and the rising income due to the Religious Holiday Allowance (THR) and the 13th salary/ holiday allowance encouraged aggregate demand to escalate. In addition, the loosening rules for business activities with certain limitations have stimulated the economic recovery. On the other hand, a deeply contracted economy in the second quarter of 2020 provided a low base effect in calculating economic growth. As a result, this situation has made Jakarta's economy grow by double digit.

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