Indonesia’s economy to slightly recover in 2020 as global uncertainties ease

Indonesia’s economy is expected to perform slightly better in 2020 on the back of improved commodity prices and easing external pressures, economists have said. In its latest Global Economic Prospect report, the World Bank forecast Indonesia would book 5.1 percent gross domestic product (GDP) growth in 2020 and 5.2 percent in 2021. The figures were 0.2 percent lower compared with its June 2019 projection. “Growth in Indonesia, which depends less on export growth than other regional economies, is projected to tick up to 5.1% [in 2020] reflecting continued support from private consumption, a pickup in investment, growth of the working-age population and improving labor markets,” the Washington-based development bank wrote in a statement.

Source: The Jakarta Post