Indonesia's Economic Growth Projections 2020-2024

Economics & Macro

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Dwi Hadya Jayani 01/07/2019 15:24 WIB

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The Directorate of Macro Planning and Statistical Analysis, Ministry of National Development Planning/Bappenas, projects Indonesia's economic growth to reach 5.3%-6.5% in 2020-2024.

Indonesia's Economic Growth Scenario 2020-2024

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Indonesia's Economic Growth Projections 2020-2024

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Indonesia's Economic Growth Scenario 2020-2024

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The Directorate of Macro Planning and Statistical Analysis, Ministry of National Development Planning/Bappenas, released the Indonesia Post-National Election Economic Outlook, which predicts Indonesian economic growth of 5.3% to 6.5% from 2020 to 2024. This growth is based on increased productivity, investment, human resource quality, and improvements in the labor market.

This economic growth prediction has three scenarios: low, medium, and high. First, the lowest economic growth scenario ranges from 5.3% to 5.5%. Specifically, this scenario predicts growth of 5.3% in 2020, 5.4% in 2021, 5.4% in 2022, 5.5% in 2023, and 5.5% in 2024. The next scenario is the medium scenario, ranging from 5.4% to 6.1%. This scenario projects economic growth of 5.4% in 2020, 5.5% in 2021, 5.7% in 2022, 5.9% in 2023, and 6.4% in 2024.

Finally, the high scenario ranges from 5.5% to 6.5%. This scenario predicts economic growth of 5.5% in 2020, 5.7% in 2021, 5.9% in 2022, 6.2% in 2023, and 6.5% in 2024.

(Read Databoks: Indonesia's Economy in 2019 Projected to Grow Above 5%)

Editor : Hari Widowati

"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."