WB: Indonesia's growth to stay moderate around 5 pct until 2021
Indonesia's economic growth was estimated to remain at a moderate level around 5 percent until 2021, mainly backed by consumption, a World Bank (WB) senior economist has said.
Hanoi (VNA) - Indonesia's economic growth was estimated to remain at a moderate levelaround 5 percent until 2021, mainly backed by consumption, a World Bank (WB)senior economist has said.
Speaking at ateleconference to publish the WB's latest report entitled "WeatheringGlobal Risk" in Jakarta on October 10, WB Senior Economist for East Asiaand the Pacific region Andrew Mason estimated that Indonesia would see a 5.2percent growth in 2019, followed by 5.1 percent in 2020 and bouncing back to5.2 percent in 2021.
Indonesia's investmentswere estimated to grow 5 percent in 2019, before expanding to 5.5 percent and 6percent in 2020 and 2021 respectively, thanks to the improved fiscal and theprogressing of massive infrastructure projects across the nation, he added.
However, thoseestimated investment growth figures were lower than 6.7 percent recorded lastyear by the WB.
Regarding exports,Mason estimated that Indonesia may see weakening exports that grow minus 1percent this year. But he said that recovery in exports growth could be seen innext year by 1.5 percent, growing further by 2.8 percent in 2021.
On imports, the economistestimated that Indonesia’s imports would also be weaken this year and to expandin the following years by 2 percent and 3.7 percent in 2020 and 2021respectively.
According to theeconomist, Indonesia would see decreasing current account deficit (CAD) to 2.8percent from the country’s Gross Domestic Products (GDP) this year./.
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A street of Jakarta (Source: AFP/VNA)
