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IMF lowers economic growth projection for Indonesia in 2021

The International Monetary Fund (IMF) has downgraded Indonesia’s economic growth projection to 4.3 percent in this year, down 0.5 percentage point compared to its forecast in February.
IMF lowers economic growth projection for Indonesia in 2021 ảnh 1A corner of Jakarta capital (Photo: AFP)

Jakarta (VNA) - The International Monetary Fund(IMF) has downgraded Indonesia’s economic growth projection to 4.3 percentin this year, down 0.5 percentage point comparedto itsforecast in February.

The IMF also predicted that the five largest economies in Southeast Asia:Indonesia, Malaysia, the Philippines, Thailand and Vietnam, will collectivelygrow by 4.9 percent in 2021, down from the previous estimation of 5.2 percentdue to the increasing number of COVID-19 infections in the region.

However, the IMF raised its growth forecast for the Asia-Pacific region from7.3 percent to 7.6 percent in the same year. It also raised its 2021growth projection for the global economy from 5.5 percent to 6 percent.

The IMF is the only multilateraleconomic organisation so far to lower its Indonesia’s economic growth outlookfor this year.

Previously, the World Bank held its GDP growth projection for Indonesia at 4.4percent for 2021, while the Organisation for Economic Cooperation andDevelopment (OECD) raised its projection by 0.9 percentage points to 4.9percent./.


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