Four Global Institutions Project Indonesia's Failure to Achieve Economic Targets

Several international institutions project that Indonesia's economic growth will struggle to reach the government's target. This is due to the current presidency of Joko Widodo (Jokowi) taking place amidst global economic uncertainty.

Indonesia's economic growth is projected to fall short of its target in both 2019 and 2020. This poses a challenge to the economic team of the "Kabinet Indonesia Maju" (Advanced Indonesia Cabinet). Based on the basic macroeconomic assumptions of the 2020 State Budget (APBN), the government targets economic growth of 5.3%.

Based on projections from four global economic institutions, Indonesia's economic growth will miss the set target. In 2020, the International Monetary Fund (IMF) and the World Bank project Indonesia's economy to grow only by 5.1%. The Asian Development Bank (ADB) projects slightly lower than the target, at 5.2%. The lowest growth is projected by the Organisation for Economic Co-operation and Development (OECD) at only 5%.

Meanwhile, in 2019, Indonesia's economy is projected to grow only by 5% by the IMF, World Bank, and OECD. The highest growth is projected by the ADB at only 5.1%.