OECD: Indonesia's Economy to Grow 5.1% in 2019 and 2020

Indonesia's economic growth in 2019 and 2020 is projected to stabilize at 5.1%. This growth figure is lower than the government's target in the 2019 State Budget (APBN) of 5.3%.

According to the Organisation for Economic Co-operation and Development (OECD), rising household income and low inflation will support household consumption in Indonesia. Investment growth is slowing but remains solid. However, the US-China trade war has slowed trade growth in Asia, thus impacting Indonesia's export performance this year.

Among developing OECD member countries, Indonesia ranks third in terms of economic growth. India holds the top position with projected economic growth of 7.2% in 2019 and 7.4% in 2020. China is in second place with economic growth of 6.2% in 2019 and 6% in 2020.