WB, IMF reduce economic growth projections for Indonesia in 2021

Indonesia’s economy will expand by 4.4 percent in 2021, the World Bank forecast in its January Global Economic Prospect report.

Wednesday, February 03, 2021 17:03

WB, IMF reduce economic growth projections for Indonesia in 2021 ảnh 1

People wearing face masks to avoid COVID-19 infection on a street in Jakarta, Indonesia, on August 19, 2020 (Photo: Xinhua/VNA)

Jakarta (VNA) – Indonesia’s economy will expand by 4.4 percent in2021, the World Bank forecast in its January Global Economic Prospect report.

The figure is 0.4 percentage point lower than the WB’sprojection in June 2020.

Meanwhile, the International Monetary Fund (IMF) cutIndonesia’ economic growth projection in 2021 to 4.8 percent, down 1.3percentage point compared to its forecast last October.

According to world economic exports, the reason for the adjustmentof both WB and IMF is that the COVID-19 pandemic continues posing risks for the local economy, just like for the global economy.

The number of infections in Indonesia has exceeded one million,and does not show signs of decline.

The country’s application of social distancing measures to containthe spread of the coronavirus will continue hindering economic activities, atleast in the first quarter of 2021./.

VNA

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