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IMF downgrades Indonesia’s economic growth to 5.4 percent in 2022

The International Monetary Fund (IMF) has downgraded its economic growth forecast for Indonesia in 2022 to 5.4 percent, 0.2 percent lower than its previous projection.
IMF downgrades Indonesia’s economic growth to 5.4 percent in 2022 ảnh 1A corner of Jakarta (Photo: AFP)

Jakarta (VNA) - The International Monetary Fund(IMF) has downgraded its economic growth forecast for Indonesia in 2022 to 5.4percent, 0.2 percent lower than its previous projection.

In astatement on March 23, the IMF did not explain thedowngrade, but it repeated that Indonesia's growth was supported by favourableglobal commodity prices, the easing of COVID-19 restrictions and risingmobility amid vaccination efforts and continued policy support.

Itstill highly valued the Indonesian government's response to the wave ofoutbreaks of the Omicron variant, as well as economic recovery efforts inrecent times.

Thefund still kept Indonesia's 2023growth forecast at 6 percent as in its report in January.

TheIMF has advised the Bank of Indonesia (BI) to stop buying bonds in the primarymarket to limit the government's debt interest expenses.

The same day,BI affirmed that it will continue to optimise financial policies to maintain economicstability and recovery of the Southeast Asian nation./.

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