Indonesia: The country’s economic growth is projected to grow 5.3 percent year-on-year from 2018 to 2020, according to the World Bank’s January 2018 edition of its Global Economic Prospect report.
Other emerging economies in the region are expected to grow at a faster pace during 2018 to 2020 but the report indicated that Indonesia will not face a dipping economic growth in the years ahead, unlike other emerging Asian economies.
The World Bank’s 5.3 percent gross domestic product growth (GDP) forecast for Indonesia from 2018 to 2020 implies an increased momentum in growth from the estimated 5.1 percent year-on-year growth pace that was projected in 2017.
The inflation in Indonesia is forecast to remain relatively low at 3.6 percent year-on-year in 2017 due to stable administered prices and stable food prices. Additionally, the International Monetary Fund released a report with similar contents, indicating the country’s growth is supported by strong and prudent macroeconomic and monetary policies as well as recovering commodity prices. It also commended the government’s efforts to improve Indonesia’s economic competitiveness.