Indonesia's Economic Projections 2020-2021 from Four Global Institutions

Dwi Hadya Jayani 18/06/2020 19:00 WIB

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Indonesia's Economic Growth Projections 2020 and 2021

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Indonesia's Economic Projections 2020-2021 from Four Global Institutions

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Indonesia's Economic Growth Projections 2020 and 2021

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The COVID-19 pandemic hit Indonesia's economy hard. The government projected Indonesia's economic growth to be only -0.4% to 2.3% in 2020. However, in 2021, the government is optimistic that the economy will grow by 4.5% to 5.5%.

The World Bank projected Indonesia's economy to stagnate. The International Monetary Fund (IMF) and Bloomberg Median only projected Indonesia's economic growth at 0.5%. Meanwhile, the Asian Development Bank (ADB) projected a higher growth of 2.5%.

Not only the government, but these four institutions also projected that Indonesia's economy would recover in 2021. The World Bank projected growth of 4.8%, ADB 5%, IMF 8.2%, and Bloomberg Median 5.5%.

Editor : Safrezi Fitra

"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."