Indonesia's INDEF Projects 3% Economic Growth in 2021
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The Institute for Development of Economics and Finance (INDEF) projects Indonesia's economy to grow by 3% in 2021. This is due to the less-than-optimal effectiveness of the National Economic Recovery Program (PEN) in 2020.
Furthermore, social protection programs have not been able to stimulate the domestic economy, while the budget for these programs will be reduced next year. Limited vaccine availability and its time-consuming distribution also pose a potential impediment to economic activity.
In addition to economic growth, INDEF also projects the Open Unemployment Rate (OUR) to be 7.8%, or 10.4 million people. The poverty rate is also projected to reach double digits, at 10.5%.
"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."
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