IMF Lowers Indonesia's 2022 Economic Growth Projection to 5.3%

Economics & Macro

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Vika Azkiya Dihni 28/07/2022 12:50 WIB

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The International Monetary Fund (IMF) has again lowered its projection for Indonesia's economic growth in 2022. This is in line with the increasing risk of recession in several countries.

Indonesia's Economic Growth Projection 2022-2023

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IMF Lowers Indonesia's 2022 Economic Growth Projection to 5.3%

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Indonesia's Economic Growth Projection 2022-2023

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The International Monetary Fund (IMF) has again lowered its projection for Indonesia's economic growth in 2022. This is in line with the increasing risk of recession in several countries.

According to the July 2022 edition of the *World Economic Outlook Update*, Indonesia's economy is projected to grow by only 5.3% (year-on-year/yoy). This projection is down 0.1 percentage points from the IMF's April 2022 forecast of 5.4% (yoy).

The IMF also cut its projection for Indonesia's economic growth next year. In July, Indonesia's economy in 2023 was projected at 5.2% (yoy), down 0.8 percentage points from the April forecast of 6% (yoy).

This revision is in line with the global economic slowdown this year. The IMF cut its world growth outlook for this year to 3.2%, down 0.4 percentage points from the IMF's April 2022 projection.

"The temporary economic recovery in 2021 was followed by developments clouded by uncertainty, as global risks became more apparent in 2022," wrote the IMF in the July 2022 edition of the World Economic Outlook report.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."