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Home arrow Latest News arrow Bank Indonesia Projection for Indonesia's Economy to Grow to 5.5 Percent in 2020


				
			
			
Bank Indonesia Projection for Indonesia's Economy to Grow to 5.5 Percent in 2020 PDF Print E-mail
Written by Maizer   
Thursday, 19 December 2019

Bank Indonesia (BI) projects economic growth in the range of the target point of 5.1 to 5.5 percent in 2020. The target of economic growth until the fourth quarter of 2019 is at 5.1 percent.

 

Because usually, economic growth will increase in the fourth quarter of 2019, the third quarter of 2019 due to household consumption that is approved and approved by non-buildings such as nickel downstream in Sulawesi. Governor of Bank Indonesia (BI) Perry Warjiyo said, the projected economic growth in 2020 is based on 4 factors.

 

He said global economic growth would increase from 3 percent to 3.1 percent because the risk balance improved.

 

"We see, the balance of risks is enhanced by the existence of an agreement on trade negotiations between the US-China. Although we agree that from the agreement carried out there needs to be more negotiations, but agreeing to this agreement will bring an improved risk balance," Perry said in Jakarta.

 

Perry said, the balance of risk will affect global economic growth. If global economic growth improves, it automatically makes RI economic growth improve in terms of exports. In addition, mention Perry, this most

 

"There are improvements in exports including an increase in exports of pulp, paper and textile fibers to China, strong steel exports to China and ASEAN, as well as continued exports of motor vehicles to ASEAN and Saudi Arabia," Perry said.

 

In addition, Perry said economic growth also rose from rising social assistance from the Indonesian government in 2020 amounting to Rp 190 trillion.

 

The high social assistance makes consumption at the community level until the government moves stable and strong. Not to mention the seriousness of President Jokowi who encouraged private investment including the construction of tourism, industrial, downstream and agricultural clusters including MSMEs to continue to be pursued.

 

In addition, BI will continue to improve accommodative fiscal policy going forward after 4 times the reduction in the benchmark interest rate and 2 times the reduction in the Statutory Reserves (GWM).

 

"The policy is relaxing macro prudential policy so that it will boost our economy both consumption and exports. We are confident the Indonesian economy will improve next year," concluded Perry.

 

 

 
		
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