World Bank: East Asia and Pacific Growth Weakens, Indonesia Relatively Stable
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The World Bank's June 2019 report, *Global Economic Prospects*, states that economic growth in East Asia and the Pacific will weaken from 6.3% in 2018 to 5.9% in 2019 and 2020. This is the first time since the 1997-1998 crisis that the region's economic growth has fallen below 6%. The US-China trade war is cited as one of the contributing factors.
The World Bank also notes that Indonesia's economy will remain relatively stable due to its low dependence on exports. Indonesia's economic growth is projected to reach 5.2% this year, rising to 5.3% in 2020 and 2021. The Indonesian economy will be supported by high infrastructure spending, household consumption, and growth in the working-age population.
"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."
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