West Papua Economic Prospects

West Papua Economic Prospects

The Papua economy in the second quarter of 2020 is predicted to start improving, driven by the start of an increase in underground mining performance and the base effect of low mining performance in the second quarter of 2019.

In the August 2019 period, the number of people working in Papua increased compared to the February 2019 period, however this was also accompanied by an increase in the Open Unemployment Rate (TPT) in Papua. TPT in Papua in the August 2019 period was 3.65 percent higher than the February 2019 period of 3.42 percent.

Papua’s economic growth in that period is projected to be in the range of 9.8  – 10.2 percent(yoy), better than the forecast for Q1 2020 growth of around 2.9 – 3.3 percent (yoy). Meanwhile, in aggregate Papua’s economy is projected to grow higher in 2020 than in 2019. In 2020, Papua’s economic growth is expected to grow in the range of 5.9 – 6.3 percent (yoy), higher than growth in 2019 which contracted by -15.72 percent (yoy).

 

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