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Indonesia’s GDP to rise 4.9 percent in 2019: Moody's

Indonesia’s gross domestic product (GDP) is projected to grow by only 4.9 percent in 2019, 0.4 percent lower than the set target, Moody’s Investor Service has said.
Indonesia’s GDP to rise 4.9 percent in 2019: Moody's ảnh 1Illustrative photo (Photo: dailynewssegypt.com)

Jakarta (VNA) - Indonesia’s gross domestic product (GDP) is projected togrow by only 4.9 percent in 2019, 0.4 percent lower than the set target, Moody’sInvestor Service has said.

According to Moody’s, the Southeast Asian nation’s GDP will further decline to 4.7 percent in 2020, and isexpected to slightly recover to 4.8 percent in 2021.

Moody’s managing director and chief creditofficer Michael Taylor said the decline in commodity prices and the US-Chinatrade war have caused negative effects on Indonesia’s economy.

According to Moody’s analyst Tengfu Li, the decline in commodity pricescorrelated closely to the banking sector, making it one of the key risks toIndonesian banks.

Meanwhile, Moody’s vice president and senior credit officer Jacintha Poh said theGDP slowdown as well as weak commodity prices — especially for palm oil andcoal — will also affect the earnings of many corporates in Indonesia.

According to official statistics of Indonesia, the country’s GDP increased by 5percent in the third quarter of 2019./.

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