Despite Four Risks, World Bank Predicts 5.3% Growth for Indonesian Economy

Economics & Macro

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14/12/2017 15:11 WIB

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Indonesia's 2018 Economic Growth Projections from Several Institutions

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Despite Four Risks, World Bank Predicts 5.3% Growth for Indonesian Economy

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Indonesia's 2018 Economic Growth Projections from Several Institutions

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The World Bank projects Indonesia's economic growth in 2018 to be 5.3 percent, higher than the 2017 projection of 5.1 percent. This projection aligns with estimates from several other institutions at 5.3 percent and is below the government's target in the 2018 State Budget (APBN) of 5.4 percent.

The World Bank's Lead Economist for Indonesia, Frederico Gil Sander, cautioned that next year Indonesia faces four risks from domestic factors. First, the entry into a political year with simultaneous regional head elections (Pilkada). Second, the loss of momentum in structural reforms due to less-than-optimal implementation. Third, low tax revenue due to tax reforms, and fourth, the rise in global oil prices which can affect the stability of other prices.

Global factors that could affect the domestic economy include monetary policy in several developed countries, especially the US Federal Reserve. Then there's the potential for pressure on the Chinese economy, which could impact Indonesia, as well as uncertainty in commodity price trends, and geopolitical risks.

"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."