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ADB raises Indonesia’s growth forecast to 5.2%

The Asian Development Bank (ADB) has raised its growth forecast for Indonesia to 5.2% this year due to healthy domestic demand and steady export growth.
ADB raises Indonesia’s growth forecast to 5.2% ảnh 1A corner of Jakarta (Source: Jakarta Post)
Jakarta (VNA) - The Asian Development Bank (ADB) has raised its growth forecastfor Indonesia to 5.2% this year due to healthy domestic demand and steadyexport growth.

The revised projection in the Asian Development Outlook (ADO) 2022 Supplement isup from the bank’s April forecast of 5.0%.

The report sees higher inflation in Indonesia this year at 4.0%, compared toADB’s 3.6% projection in April, due to high commodity prices. For 2023, ADBprojects the Indonesian economy to grow by 5.3% and inflation to be 3.3%.

“Economic activity in Indonesia continues to normalize while COVID-19 infectionsremain manageable, despite a recent rise in the number of cases,” ADB CountryDirector for Indonesia Jiro Tominaga said in a statement released on July 21.

“Inflation has risen, hurting households’ purchasing power. High prices for keycommodity exports, however, are generating windfall export earnings and fiscalrevenue, enabling the government to provide aid for costlier food, electricity,and fuel while still reducing the budget deficit.”

ADB is committed to achieving a prosperous, inclusive,resilient, and sustainable Asia and the Pacific, while sustaining its effortsto eradicate extreme poverty. Established in 1966, it is owned by 68 members—49from the region./.
VNA
#Asian Development Bank#ADB#Indonesia growthAsian Development Outlook 2022 Supplement#vietnam news agency#vietnamplus
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